Announcement regarding Standard & Poor’s Ratings
Announcement regarding Standard & Poor’s Ratings
Standard & Poor’s (S&P) lowered Long Term Foreign Currency Sovereign rating on the Republic of Turkey from BB+ to BB, Long Term Local Currency Sovereign rating from BBB- to BB+, and revised its Outlook to Negative from Stable on its report dated July 20 2016.
Accordingly, S&P lowered the Bank’s Long Term Foreign Currency and Long Term Local Currency ratings from BB+ to BB, and revised its Outlook to Negative from Stable. S&P affirmed "bb+" rating of the Bank’s Stand-alone Credit Profile (SACP) at the same level.
In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.