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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