DJ Turkiye Garanti Bankasi A.S.: Announcement regarding Fitch Ratings
Turkiye Garanti Bankasi A.S. (TGBD) Turkiye Garanti Bankasi A.S.: Announcement regarding Fitch Ratings 25-Feb-2022 / 15:50 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 Fitch Ratings
DATE: February 25, 2022
Fitch Credit Ratings has downgraded Turkey's Long Term Foreign and Local Currency Issuer Default Ratings (IDR) to "B+" from "BB-", and the country ceiling to "B+" from "BB-" on February 11, 2022. Following this revision, Fitch Ratings has also revised the Bank's Long Term Foreign and Local Currency IDRs to "B" from "B+" and "B+" from "BB-", respectively. The agency also has placed the Bank's Viability Rating on "Rating Watch Negative", on February 25, 2022. In addition, the Long Term Senior Unsecured Notes and Subordinated notes of the Bank has also been downgraded to "B" from "B-" and to "B-" from "B", respectively. Bank's current ratings are as follows.
Current Ratings Prior Long Term FC IDR B / Negative Outlook B+ / Negative Outlook Short Term FC IDR B B Long Term TL IDR B+ / Negative Outlook BB- / Negative Outlook Short Term TL IDR B B Viability Rating b+ / Rating Watch Negative b+ Support 4 4 National Long Term Rating AA(tur) AA(tur) National Long Term Rating Outlook Negative Negative Long term senior unsecured notes B B+ Short term senior unsecured notes B B Subordinated notes B- B
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
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ISIN: US9001487019 Category Code: MSCL TIDM: TGBD LEI Code: 5493002XSS7K7RHN1V37 Sequence No.: 145538 EQS News ID: 1289177 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
February 25, 2022 10:50 ET (15:50 GMT)
