Announcement Regarding Standard & Poor’s Credit Ratings
Announcement Regarding Standard & Poor’s Credit Ratings
Standard & Poor's (S&P) revised down the sovereign ratings on the Republic of Turkey from “BB” to “BB-“ while revising up the outlook from “Negative” to “Stable” on its report dated May 1, 2018.
Accordingly, S&P revised down Türkiye Garanti Bankası A.Ş (Bank)'s Long Term Foreign Currency and Long Term Local Currency ratings from "BB" to “BB-“ and Stand-alone Credit Profile (SACP) rating from "bb+" to “bb”. Moreover, S&P revised the Bank’s rating outlook from “Negative” to “Stable”, in line with the sovereign outlook.