Announcement regarding Moody’s ratings
Announcement regarding Moody’s ratings
International rating agency Moody’s upgraded the long-term foreign currency deposit rating of Garanti BBVA to B2 from Caa1, with negative outlook. The rating action is driven by changes in the local currency and foreign currency country ceilings applied to the jurisdictions of the banks following the publication of Moody’s updated Local and Foreign Currency Country Ceilings for Bonds and Other Obligations Methodology on 7 December 2020. Bank’s current ratings are as follows:
| Outlook |
Negative |
| Long Term FC Deposit |
B2 (Negative) |
| Long Term TL Deposit |
B2 (Negative) |
| Short Term TL Deposit |
Not – Prime |
| Short Term FC Deposit |
Not – Prime |
| Baseline Credit Assessment - BCA |
b3 |
| Adjusted BCA |
b3 |
| Senior Unsecured Rating (Regular Bond) |
B2 (Negative) |
| Senior Unsecured Rating (Medium-Term Note Program) |
(P)B2 |
| National Scale Rating (NSR) Long Term Deposit |
A1.tr |
| NSR Short Term |
TR-1 |