Announcement regarding Moody’s rating upgrade
Announcement regarding Moody’s rating upgrade
On 25 July 2025, Moody’s upgraded the Government of Turkiye’s sovereign rating to Ba3 from B1 (with a stable outlook from positive) and Turkiye’s foreign-currency country ceiling to Ba2 from Ba3 and the local-currency country ceiling to Baa3 from Ba1. Following this rating action, on 30 July 2025 Moody’s upgraded Garanti BBVA’s Long Term Foreign and Local Currency Deposit Ratings to Ba2 from Ba3. Garanti BBVA’s standalone credit assessment (BCA) and Adjusted BCA were also upgraded to ba3 and ba2, from b1 and ba3, respectively.
Bank’s current ratings are as follows:
| Outlook |
Positive |
Positive |
| Long Term FC Deposit |
Ba3 (Positive) |
Ba2 (Positive) |
| Long Term TL Deposit |
Ba3 (Positive) |
Ba2 (Positive) |
| Short Term TL Deposit |
Not - Prime |
Not - Prime |
| Short Term FC Deposit |
Not - Prime |
Not - Prime |
| Baseline Credit Assessment - BCA |
b1 |
ba3 |
| Adjusted BCA |
ba3 |
Ba2 |
| Subordinated Bond (Foreign) |
B2 (hyb) |
B1 (hyb) |
| Senior Unsecured Rating (Medium-Term Note Program) |
(P) Ba3 |
(P) Ba2 |
| National Scale Rating (NSR) Long Term Deposit |
Aaa.tr |
Aaa.tr |
| National Scale Rating (NSR) Short Term |
TR-1 |
TR-1 |