Announcement Regarding Standard & Poor’s Ratings
Announcement Regarding Standard & Poor’s Ratings
Standard & Poor’s (S&P) affirmed Türkiye Garanti Bankası A.Ş.’s (Bank) Long Term Foreign Currency and Long Term Local Currency ratings at “BB” and Stand-alone Credit Profile (SACP) rating at "bb+" level. S&P also affirmed the outlook on the Bank’s ratings at Negative in line with the outlook of the sovereign ratings on the Republic of Turkey. S&P stated in its report that the outlook on the Bank’s rating would be upgraded to Stable if the outlook on the sovereign ratings were revised to Stable. Furthermore, S&P noted that the Bank’s Foreign Currency rating is capped with the sovereign rating.