REG - Turkiye Is Bankasi - Moody's Rating Action <Origin Href="QuoteRef">ISCTR.IS</Origin>

Turkiye Is Bankasi ASAnnouncement

27/09/2016 13:50

RNS Number : 9741K
Turkiye Is Bankasi
27 September 2016
Moody's Rating Action
On 26 September 2016, international credit rating agency Moody's announced that the Long Term Local Currency and Foreign Currency Issuer and Local Currency Deposit Ratings of bank were downgraded to Ba1 from Baa3. The Bank's Foreign Currency Deposit Rating, which was constrained by sovereign ceiling, was downgraded to Ba2 from Baa3. Outlooks assigned to the aforementioned ratings have been determined as Stable. Short Term Local Currency and Foreign Currency Deposit Ratings were downgraded to Not-Prime from P-3. Subordinated Debt Rating was affirmed at Ba3/B1(hyb). According to the disclosure made by Moody's, the aforementioned changes were made pursuant to the downgrade of Turkish sovereign rating on 23 September 2016.
The list of the current ratings assigned to bank by Moody's is as follows:
Long-term Foreign Currency Issuer Rating / Outlook: Ba1 / Stable 
Long-term Foreign Currency Bank Deposits Rating / Outlook: Ba2 / Stable 
Long-term Local Currency Bank Deposits Rating / Outlook: Ba1 / Stable 
Short-term Foreign Currency / Local Currency Deposits Rating: Not-Prime/ Not-Prime 
Subordinated Debt Rating: Ba3/B1(hyb)

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