U.S. investors can watch for more future-flow bonds hitting the global ABS market in the near future, sources say, following last week's triple-B rating by Duff & Phelps Credit Rating Co. of Turkey's $200 million, three-year rights-backed securitization for Turkiye Garanti Bankasij.

"We think the credibility that the rating agencies bring to the transaction is very high," said Greg Johnson, managing director and head of Yankee capital markets group at Banc of America Securities, lead manager of the Garanti deal.

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