Announcement regarding Fitch Ratings
Announcement regarding Fitch Ratings
Fitch Credit Ratings has downgraded Turkey’s Long Term Foreign Currency Issuer Default Ratings (IDR) to “B” from “B+” with Negative Outlook, on July 8th, 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 “B+“, respectively. The agency also has decreased the Bank’s Viability Rating to “b” from “b+”, on July 26, 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 “CCC“ from “B-”, respectively. Bank's current ratings are as follows.
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Current Rating
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Prior
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Long Term FC IDR
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B- / Negative Outlook
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B / Negative Outlook
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Short Term FC IDR
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B
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B
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Long Term TL IDR
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B / Negative Outlook
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B+ / Negative Outlook
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Short Term TL IDR
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B
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B
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Viability Rating
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b
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b+
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Shareholder Support
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b-
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b
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National Long Term Rating
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AA(tur)
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AA(tur)
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Long term senior unsecured notes
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B-
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B
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Short term senior unsecured notes
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B
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B
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Subordinated notes
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CCC+
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B-
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