REG - Turkiye Garanti Bank - Announcement regarding Fitch Credit Ratings

Turkiye Garanti Bankasi ASAnnouncement

23/07/2018 07:16

RNS Number : 4103V
Turkiye Garanti Bankasi
23 July 2018
 


TO: Investment Community
FROM : Garanti Bank / Investor Relations
SUBJECT: Announcement regarding Fitch Credit Ratings
DATE: July 23, 2018
 
Fitch Ratings affirmed Türkiye Garanti Bankasi A.Ş.'s National Long Term Rating as 'AAA(tur)' and National Long Term Rating Outlook as 'Stable'.
 
Following Turkey's sovereign rating downgrade on 13 July 2018, Fitch Ratings has revised down the following ratings on Türkiye Garanti Bankasi A.Ş.:
 
·   Long-term FC IDR : from 'Rating Watch Negative on BBB-' to 'BB/Negative Outlook' ; 
·   Short-term FC IDR: from 'Rating Watch Negative on F3' to 'B';
·   Long-term LC IDR : from 'BBB-/Stable Outlook' to 'BB+/Negative Outlook';
·   Short-term LC IDR: from 'F3' to 'B';
·   Viability Rating from 'Rating Watch Negative on bb+' to 'bb-';
·   Support Rating: from 'Rating Watch Negative on 2' to '3';
·   Senior Unsecured Long-term and Short-term notes from 'Rating Watch Negative on BBB-'/'Rating Watch Negative on F3' to 'BB'/'B';
·   Subordinated notes from 'Ratings Watch Negative on BB+' to 'BB-'
 
In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.
 
We declare that our above statements are in conformity with the principles included in the Board's Communiqué, Serial II Nr.15.1, that it exactly reflects the information we received; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.
 
Yours sincerely,
 
Garanti Bank
Contact Garanti Bank Investor Relations:
Tel: +90 212 318 2352
Fax: +90 212 216 5902
E-mail: investorrelations@garanti.com.tr
www.garantiinvestorrelations.com
 




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