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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

Announcement regarding Moody’s ratings

 

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