Announcement regarding Moody’s Credit Ratings
Announcement regarding Moody’s Credit Ratings
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:
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Former
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Current
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Outlook
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Stable
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Under Review
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Long Term FC Deposit
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Ba3
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Ba3 (Under Review for Downgrade)
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Long Term TL Deposit
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Ba2
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Ba3 (Under Review for Downgrade)
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Short Term TL Deposit
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Not - Prime
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Not - Prime
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Short Term FC Deposit
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Not - Prime
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Not - Prime
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Baseline Credit Assessment - BCA
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ba3
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b1
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Adjusted BCA
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ba2
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ba3
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Senior Unsecured Rating (Regular Bond)
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Ba2
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Ba3 (Under Review for Downgrade)
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Senior Unsecured Rating (Medium-Term Note Program)
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(P)Ba2
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(P)Ba3
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National Scale Rating (NSR) Long Term Deposit
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Aa1.tr
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A1.tr
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NSR Short Term
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TR-1
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TR-1 (Under Review for Downgrade)
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In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.