S&P Downgrades Notes of Pera Financial Services Co.

Apr 20, 2001, 01:00 ET from Standard & Poor's

    LONDON, April 20 /PRNewswire/ -- Standard & Poor's today lowered its
 rating on the $350 million 9.375% fixed-rate notes issued by the
 special-purpose entity, Pera Financial Services Co., to single-'B'-minus from
 single-'B'.
     This is a consequence of the April 17 lowering of the long-term
 counterparty credit rating on Turkiye Garanti Bankasi A.S., a Turkish
 financial institution that acts as support to Pera Financial Services,
 Standard & Poor's said. -- CreditWire
 
 

SOURCE Standard & Poor's
    LONDON, April 20 /PRNewswire/ -- Standard & Poor's today lowered its
 rating on the $350 million 9.375% fixed-rate notes issued by the
 special-purpose entity, Pera Financial Services Co., to single-'B'-minus from
 single-'B'.
     This is a consequence of the April 17 lowering of the long-term
 counterparty credit rating on Turkiye Garanti Bankasi A.S., a Turkish
 financial institution that acts as support to Pera Financial Services,
 Standard & Poor's said. -- CreditWire
 
 SOURCE  Standard & Poor's