REG - Turkiye Garanti Bank - Announcement regarding Moody's Credit Ratings

Turkiye Garanti Bankasi ASAnnouncement

07/06/2018 17:20

RNS Number : 7071Q
Turkiye Garanti Bankasi
07 June 2018
 


TO: Investment Community
FROM : Garanti Bank / Investor Relations
SUBJECT: Announcement regarding Moody's Credit Ratings
DATE: June 07, 2018
International rating agency Moody's downgraded T. Garanti Bankası A.Ş.'s Long-term Local Currency Deposits, Baseline Credit Assessment, Adjusted Baseline Credit Assessment, Long term National Scale rating and Senior Unsecured rating by one notch and placed under review for further downgrade, following the Agency's decision to place Turkey's ratings on review for downgrade on June 1st, 2018. Long-term Foreign Currency (Ba3) and Short-term National Scale rating (TR-1) are also placed on review for downgrade. Short-term ratings were affirmed. Bank's current ratings are as follows:
 







Former


Current




Outlook


Stable


Under Review




Long Term FC Deposit


Ba3


Ba3 (Under Review for Downgrade)




Long Term TL Deposit


Ba2


Ba3 (Under Review for Downgrade)




Short Term TL Deposit


Not - Prime


Not - Prime




Short Term FC Deposit


Not - Prime


Not - Prime




Baseline Credit Assessment - BCA


ba3


b1




Adjusted BCA


ba2


ba3




Senior Unsecured Rating (Regular Bond)


Ba2


Ba3 (Under Review for Downgrade)




Senior Unsecured Rating (Medium-Term Note Program)


(P)Ba2


(P)Ba3




National Scale Rating (NSR) Long Term Deposit


Aa1.tr


A1.tr




NSR Short Term


TR-1


TR-1 (Under Review for Downgrade)



 
 
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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