Announcement regarding Fitch Ratings
Announcement regarding Fitch Ratings
Fitch Credit Ratings has downgraded Turkey’s Long Term Foreign and Local Currency Issuer Default Ratings (IDR) to “B+” from “BB-“, and the country ceiling to “B+” from “BB-“ on February 11, 2022. Following this revision, Fitch Ratings has also revised the Bank’s Long Term Foreign and Local Currency IDRs to “B” from “B+” and “B+” from “BB-“, respectively. The agency also has placed the Bank’s Viability Rating on “Rating Watch Negative”, on February 25, 2022. In addition, the Long Term Senior Unsecured Notes and Subordinated notes of the Bank has also been downgraded to “B” from “B-“ and to “B-“ from “B”, respectively. Bank's current ratings are as follows.
|
Long Term FC IDR
|
B / Negative Outlook
|
B+ / Negative Outlook
|
|
Short Term FC IDR
|
B
|
B |
|
Long Term TL IDR
|
B+ / Negative Outlook
|
BB- / Negative Outlook |
|
Short Term TL IDR
|
B
|
B |
|
Viability Rating
|
b+ / Rating Watch Negative
|
b+ |
|
Support
|
4
|
4 |
|
National Long-term Rating
|
AA(tur)
|
AA(tur) |
|
National Long-term Rating Outlook
|
Negative
|
Negative |
|
Long Term Senior unsecured notes
|
B
|
B+ |
|
Short Term Senior unsecured notes
|
B
|
B |
|
Subordinated notes
|
B-
|
B |