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
18-March-2024 / 08:20 GMT/BST
=----------------------------------------------------------------------------------------------------------------------
TO: Investment Community
FROM: Garanti BBVA / Investor Relations
SUBJECT: Announcement regarding Fitch Ratings
DATE: March 18, 2024
Fitch Ratings has upgraded Garanti BBVA's Long-Term Foreign Currency and Local-Currency Issuer Default Ratings (IDRs)
to "B" from "B-" and to "B+" from "B", respectively and revised the Outlooks to "Positive" from "Stable" on March 15,
2024. The rating action follows the upgrade of Türkiye's Long-Term IDR to "B+/Positive" from "B/Stable" on March 8th,
2024. The agency has also upgraded the Bank's Long-Term Senior Unsecured Debt and Subordinated Debt ratings to "B" from
"B-" and to "B-" from "CCC+", respectively and the Shareholder Support rating to "b" from "b-". The Bank's Viability
Rating has also been placed on Rating Watch Positive (RWP) at "b". Bank's current ratings are as follows:
Current Rating Prior
Long Term FC IDR B / Positive Outlook B- / Stable Outlook
Short Term FC IDR B B
Long Term TL IDR B+ / Positive Outlook B / Stable Outlook
Short Term TL IDR B B
Viability Rating b (Rating Watch Positive) b
Shareholder Support b b-
National Long Term Rating AA(tur) AA(tur)
Long term senior unsecured debt B B-
Short term senior unsecured debt B B
Subordinated debt B- CCC+
*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
----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
-----------------------------------------------------------------------------------------------------------------------
ISIN: US9001487019 Category Code: MSCL TIDM: TGBD LEI Code: 5493002XSS7K7RHN1V37 Sequence No.: 310315 EQS News ID: 1860883 End of Announcement EQS News Service =------------------------------------------------------------------------------------
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1860883&application_name=news
(END) Dow Jones Newswires
March 18, 2024 04:21 ET (08:21 GMT)
