DJ 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 17-Aug-2022 / 13:36 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: August 16, 2022
International rating agency Moody's downgraded Garanti BBVA's long-term foreign-currency and local-currency deposit ratings to B3 from B2. The rating action follows Moody's's downgrading of Turkiye's sovereign bond rating to B3 with stable outlook from B2 with negative outlook, which also resulted in the downgrading of the country ceilings for foreign-currency to B3 from B2 and local-currency to B1 from Ba3 on 12 August 2022. Moody's also affirmed Garanti BBVA's BCA and the Adjusted BCA at b3. Bank's current ratings are as follows:
Current Rating Prior Outlook Stable Negative Long Term FC Deposit B3 (Stable) B2 (Negative) Long Term TL Deposit B3 (Stable) B2 (Negative) Short Term FC Deposit Not - Prime Not - Prime Short Term TL Deposit Not - Prime Not - Prime Baseline Credit Assessment - BCA b3 b3 Adjusted BCA b3 b3 Senior Unsecured Rating (Regular Bond) B3 (Stable) B2 (Negative) Senior Unsecured Rating (Medium-Term Note Program) (P) B3 (P) B2 National Scale Rating (NSR) Long Term Deposit Baa1.tr A1.tr National Scale Rating (NSR) Short Term TR-2 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
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ISIN: US9001487019 Category Code: MSCL TIDM: TGBD LEI Code: 5493002XSS7K7RHN1V37 Sequence No.: 182083 EQS News ID: 1422681 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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August 17, 2022 08:37 ET (12:37 GMT)
