Announcement regarding Fitch Credit Ratings
Announcement regarding Fitch Credit Ratings
Fitch Ratings affirmed Türkiye Garanti Bankasi A.Ş.'s National Long Term Rating as ‘AAA(tur)' and National Long Term Rating Outlook as ‘Stable'.
Following Turkey’s sovereign rating downgrade on 13 July 2018, Fitch Ratings has revised down the following ratings on Türkiye Garanti Bankasi A.Ş.:
- Long-term FC IDR : from 'Rating Watch Negative on BBB-' to 'BB/Negative Outlook' ;
- Short-term FC IDR: from 'Rating Watch Negative on F3' to 'B';
- Long-term LC IDR : from 'BBB-/Stable Outlook' to 'BB+/Negative Outlook';
- Short-term LC IDR: from 'F3' to 'B';
- Viability Rating from 'Rating Watch Negative on bb+' to 'bb-';
- Support Rating: from 'Rating Watch Negative on 2' to '3';
- Senior Unsecured Long-term and Short-term notes from 'Rating Watch Negative on BBB-'/'Rating Watch Negative on F3' to 'BB'/'B';
- Subordinated notes from 'Ratings Watch Negative on BB+' to 'BB-'
*In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.