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REG-Turkiye Garanti Bankasi A.S. Turkiye Garanti Bankasi A.S.: Announcement regarding Moody’s rating upgrade

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   Turkiye Garanti Bankasi A.S. (TGBD)
   Turkiye Garanti Bankasi A.S.: Announcement regarding Moody’s rating
   upgrade

   24-Jul-2024 / 12:31 GMT/BST

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   TO: Investment Community

         FROM : Garanti BBVA / Investor Relations

   SUBJECT: Announcement regarding Moody’s rating upgrade

   DATE: July 24, 2024

    

   On 19 July 2024,  Moody’s upgraded the  Government of Turkiye’s  sovereign
   rating  to  B1  from  B3  (   with  a  positive  outlook)  and   Turkiye’s
   foreign-currency country ceiling  to Ba3  from B2  and the  local-currency
   country ceiling to  Ba1 from  Ba3. Following this  rating action,  Moody’s
   upgraded Garanti  BBVA’s  Long Term  Foreign  and Local  Currency  Deposit
   Ratings by three  notch to Ba3  from B3  on 23 July  2024. Garanti  BBVA’s
   standalone credit assessment (BCA) and Adjusted BCA were also upgraded  to
   b1 and ba3, respectively,  from b3. Moody’s stated  that: “The upgrade  of
   Garanti BBVA’s  standalone BCA  to  b1, reflects  the improvement  of  the
   operating environment and a track  record of resilient performance by  the
   bank.” Positive outlook on ratings has been maintained.

    

   Bank’s current ratings are as follows:

    

   Moody's                                         Previous       Current
   Outlook                                         Positive       Positive
   Long Term FC Deposit                          B3 (Positive) Ba3 (Positive)
   Long Term TL Deposit                          B3 (Positive) Ba3 (Positive)
   Short Term TL Deposit                          Not - Prime   Not - Prime
   Short Term FC Deposit                          Not - Prime   Not - Prime
   Baseline Credit Assessment - BCA                   b3             b1
   Adjusted BCA                                       b3            ba3
   Subordinated Bond (Foreign)                    Caa2 (hyb)      B2 (hyb)
   Senior Unsecured Rating (Medium-Term Note        (P) B3        (P) Ba3
   Program)
   National Scale Rating (NSR) Long Term Deposit     A1.tr         Aaa.tr
   National Scale Rating (NSR) Short Term            TR-2           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 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

    

   ══════════════════════════════════════════════════════════════════════════

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

   ══════════════════════════════════════════════════════════════════════════

   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.:   336260
   EQS News ID:    1953267


    
   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=1953267&site_id=reuters~~~787b94c3-8286-43cc-98b3-26b1dc52d810&application_name=news


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