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2020-09-16

Turkiye Garanti Bankasi A.S.: Announcement regarding Moody's ratings

Turkiye Garanti Bankasi A.S. (TGBD)
Turkiye Garanti Bankasi A.S.: Announcement regarding Moody's ratings

16-Sep-2020 / 08:26 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: September 15, 2020

 

 

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

 

 

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
OAM Categories:3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.:84211
EQS News ID:1132273



 
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