REG-Turkiye Garanti Bankasi A.S. Turkiye Garanti Bankasi A.S.: Announcement_Regarding_Fitch_Ratings

Turkiye Garanti Bankasi ASAnnouncement

18/09/2024 08:45

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   Turkiye Garanti Bankasi A.S. (TGBD)
   Turkiye Garanti Bankasi A.S.: Announcement_Regarding_Fitch_Ratings

   18-Sep-2024 / 08:40 GMT/BST

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   TO: Investment Community

         FROM : Garanti BBVA / Investor Relations

   SUBJECT: Announcement regarding Fitch Ratings

    

   DATE: September 17, 2024

    

   The international  rating agency  Fitch  Ratings raised  Türkiye’s  credit
   rating from "B+"  to "BB-" on  September 6, 2024,  and changed the  rating
   outlook to Stable. Following  this, on 17  September 2024, Fitch  upgraded
   Garanti BBVA's Long-Term Foreign Currency and Local Currency IDRs from "B"
   to "BB-" and from "B+" to  "BB-", respectively, also changing the  outlook
   to Stable.  Additionally, Fitch  Ratings raised  Garanti BBVA's  Viability
   Rating from "b+" to "bb-".

    

   Bank’s current ratings are as follows:

    

   Fitch (17 September 2024)         Current             Previous
   Long Term FC IDR                  BB-    /     Stable B / Positive Outlook
                                     Outlook
   Short Term FC IDR                 B                   B
   Long Term TL IDR                  BB-    /     Stable B+    /     Positive
                                     Outlook             Outlook
   Short Term TL IDR                 B                   B
   Viability Rating                  bb-                 b+
   Shareholder Support               bb-                 b
   Long Term Senior unsecured notes  BB-                 B
   Short Term Senior unsecured notes B                   B
   Subordinated notes                B+                  B-

    

   *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 BBVA

   Contact Garanti BBVA Investor Relations:

   Tel: +90 212 318 2352

         Fax: +90 212 216 5902

         E-mail:  1 investorrelations@garantibbva.com.tr

          2 www.garantibbvainvestorrelations.com

    

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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:           US9001487019
   Category Code:  MSCL
   TIDM:           TGBD
   LEI Code:       5493002XSS7K7RHN1V37
   OAM Categories: 3.1. Additional regulated information required to be
                   disclosed under the laws of a Member State
   Sequence No.:   347667
   EQS News ID:    1990663


    
   End of Announcement EQS News Service

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References

   Visible links
   1. mailto:investorrelations@garantibbva.com.tr
   2. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=19979b7bae6aeeb49d76141fbe11774c&application_id=1990663&site_id=refinitiv~~~456f380e-074c-434c-ab61-d8ca972fa0de&application_name=news


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