Announcement Regarding Standard & Poor’s Ratings
Announcement Regarding Standard & Poor’s Ratings
Standard & Poor’s (S&P) revised the outlook of the sovereign ratings on the Republic of Turkey to Stable from Negative on its report dated November 4, 2016. According to S&P’s announcement, this revision reflects S&P’s view that policymakers will continue to implement economic reforms which will help to underpin economic stability, despite persistent domestic and external risks.
Accordingly, S&P revised the outlook of Türkiye Garanti Bankası A.Ş (Bank) ratings to Stable from Negative. S&P, affirmed the Bank’s Long Term Foreign Currency and Long Term Local Currency ratings at “BB” and Stand-alone Credit Profile (SACP) rating at "bb+" level.
In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.