Announcement Regarding Fitch Ratings
Announcement Regarding Fitch Ratings
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:
| Long Term FC IDR |
BB- / Stable Outlook |
B / Positive Outlook |
| Short Term FC IDR |
B |
B |
| Long Term TL IDR |
BB- / Stable Outlook |
B+ / Positive 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- |