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Turkey's Isbank hits S&P investment-grade in $500m DPR

Turkiye Is Bankasi (Isbank) has become the first Turkish bank to garner an underlying investment-grade rating from Standard & Poor's in the public market (see ASR 10/25/04). Led by Standard Chartered, the $500 million transaction is wrapped 50/50 by MBIA and Ambac. S&P gave the deal an underlying rating...

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