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

Turkiye Garanti Bankasi ASAnnouncement

28/08/2018 16:35

RNS Number : 0461Z
Turkiye Garanti Bankasi
28 August 2018
 


TO: Investment Community
FROM : Garanti Bank / Investor Relations
SUBJECT: Announcement Regarding Moody's Credit Ratings
DATE: August 28, 2018
 
International rating agency Moody's downgraded T. Garanti Bankası A.Ş.'s Long-term Foreign Currency Deposits, Long-term Local Currency Deposits, Baseline Credit Assessment, Adjusted Baseline Credit Assessment  and Senior Unsecured ratings by one notch and placed negative outlook, following the Agency's decision of Turkey's ratings downgrade on August 17th, 2018. Short-term ratings and national scale ratings were affirmed. Bank's current ratings are as follows:







Former


Current




Outlook


Under Review


Negative




Long Term FC Deposit


Ba3 (Under Review for Downgrade)


B1 (Negative)




Long Term TL Deposit


Ba3 (Under Review for Downgrade)


B1 (Negative)




Short Term TL Deposit


Not - Prime


Not - Prime




Short Term FC Deposit


Not - Prime


Not - Prime




Baseline Credit Assessment - BCA


b1


b2




Adjusted BCA


ba3


b1




Senior Unsecured Rating (Regular Bond)


Ba3 (Under Review for Downgrade)


B1 (Negative)




Senior Unsecured Rating (Medium-Term Note Program)


(P)Ba3


(P)B1




National Scale Rating (NSR) Long Term Deposit


A1.tr (Under Review for Downgrade)


A1.tr




NSR Short Term


TR-1 (Under Review for Downgrade)


TR-1



 
 
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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