On November 19, S&P stated that the emerging markets of Turkey, Brazil and South Africa were slowly gaining stability. On November 25, Fitch Ratings stressed that Turkey is a strategic market, which was confirmed with Spain's Banco Bilbao Vizcaya Argentaria (BBVA) stock purchase of Garanti Bank. With the purchase, BBVA's share in Garanti Bank became 39.9 percent. On December 5, while Moody's was expected to announce Turkey's credit rating on Dec. 5, it delivered a short statement explaining for the second time that it could not make an evaluation of Turkey's credit rating and outlook.