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Following the downgrade of Turkey's Long Term Foreign and Local Currency Issuer Default Ratings (IDR) to "B+" from "BB-", and the country ceiling to "B+" from "BB-" on 11 February 2022, International Rating Agency Fitch Ratings has also revised the ratings of Turkish banks on 25 February 2022. In this context, Fitch Ratings has revised DenizBank's long-term local currency IDR to "B+" from "BB-", long term foreign currency IDR to "B" from "B+" with their  "Negative" Outlooks and shareholder support rating to "b" from "b+". Fitch ratings affirmed our viability rating at "b+" with RWN (Rating Watch Negative) and our short-term local and foreign currency IDRs at "B".