Announcement regarding Moody’s Credit Ratings
Announcement regarding Moody’s Credit Ratings
International rating agency Moody’s downgraded T. Garanti Bankası A.Ş.’s Long-term Foreign Currency Deposits, Long-term Local Currency Deposits, Baseline Credit Assessment and Senior Unsecured ratings by one notch, Adjusted Baseline Credit Assessment by two notches and placed negative outlook on June 18th, 2019 following the Agency’s decision to downgrade Turkey's sovereign ratings by one notch from Ba3 to B1 on June 14th, 2019. Short-term ratings and national scale ratings were affirmed.
Bank’s current ratings are as follows:
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Former
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Current
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Outlook
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Negative
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Negative
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Long Term FC Deposit
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B2 (Negative)
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B3 (Negative)
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Long Term TL Deposit
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B1 (Negative)
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B2 (Negative)
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Short Term TL Deposit
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Not - Prime
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Not - Prime
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Short Term FC Deposit
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Not - Prime
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Not - Prime
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Baseline Credit Assessment - BCA
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b2
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b3
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Adjusted BCA
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b1
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b3
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Senior Unsecured Rating (Regular Bond)
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B1 (Negative)
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B2 (Negative)
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Senior Unsecured Rating (Medium-Term Note Program)
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(P)B1
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(P)B2
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National Scale Rating (NSR) Long Term Deposit
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A1.tr
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A1.tr
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NSR Short Term
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TR-1
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TR-1
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