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TURKIYE GARANTI BANKASI A.S. Turkiye Garanti Bankasi A.S.: Announcement regarding Moody’s Ratings

Directive transparence : information réglementée

17/08/2022 14:36

Turkiye Garanti Bankasi A.S. (TGBD)
Turkiye Garanti Bankasi A.S.: Announcement regarding Moody’s Ratings

17-Aug-2022 / 13:36 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


TO: Investment Community

FROM : Garanti BBVA / Investor Relations

SUBJECT: Announcement regarding Moody’s Ratings

 

 

DATE: August 16, 2022

 

 

 

International rating agency Moody's downgraded Garanti BBVA’s long-term foreign-currency and local-currency deposit ratings to B3 from B2. The rating action follows Moody’s’s downgrading of Turkiye's sovereign bond rating to B3 with stable outlook from B2 with negative outlook, which also resulted in the downgrading of the country ceilings for foreign-currency to B3 from B2 and local-currency to B1 from Ba3 on 12 August 2022. Moody’s also affirmed Garanti BBVA’s BCA and the Adjusted BCA at b3. Bank’s current ratings are as follows:

 

 

Current Rating

Prior

Outlook

Stable

Negative

Long Term FC Deposit

B3 (Stable)

B2 (Negative)

Long Term TL Deposit

B3 (Stable)

B2 (Negative)

Short Term FC Deposit

Not - Prime

Not - Prime

Short Term TL Deposit

Not - Prime

Not - Prime

Baseline Credit Assessment - BCA

b3

b3

Adjusted BCA

b3

b3

Senior Unsecured Rating (Regular Bond)

B3 (Stable)

B2 (Negative)

Senior Unsecured Rating (Medium-Term Note Program)

(P) B3

(P) B2

National Scale Rating (NSR) Long Term Deposit

Baa1.tr

A1.tr

National Scale Rating (NSR) Short Term

TR-2

TR-1

 

 

 

In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.

 

We declare that our above statements are in conformity with the principles included in the Board’s Communiqué, Serial II Nr.15.1, that it exactly reflects the information we received; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.

 

Yours sincerely,

Garanti BBVA

Contact Garanti BBVA Investor Relations:

Tel: +90 212 318 2352

Fax: +90 212 216 5902
E-mail: investorrelations@garantibbva.com.tr
www.garantibbvainvestorrelations.com

 



ISIN: US9001487019
Category Code: MSCL
TIDM: TGBD
LEI Code: 5493002XSS7K7RHN1V37
Sequence No.: 182083
EQS News ID: 1422681

 
End of Announcement EQS News Service

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