Announcement regarding Moody’s ratings
Announcement regarding Moody’s ratings
Following the downgrade of Turkey’s sovereign rating to B2 with negative outlook from B1 with negative outlook on 11 September 2020; International rating agency Moody’s has downgraded Garanti BBVA’s foreign currency long-term deposit rating to “Caa1” with negative outlook from B3 with negative outlook on 15 September 2020. Current ratings of the Bank are as follows:
| Outlook |
Negative |
| Long Term FC Deposit |
Caa1 (Negative) |
| Long Term TL Deposit |
B2 (Negative) |
| Short Term TL Deposit |
Not – Prime |
| Short Term FC Deposit |
Not – Prime |
| Baseline Credit Assessment - BCA |
b3 |
| Adjusted BCA |
b3 |
| Senior Unsecured Rating (Regular Bond) |
B2 (Negative) |
| Senior Unsecured Rating (Medium-Term Note Program) |
(P)B2 |
| National Scale Rating (NSR) Long Term Deposit |
A1.tr |
| NSR Short Term |
TR-1 |