Turkiye Garanti Bankasi A.S. (TGBD)
19-Jun-2019 / 07:26 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 Credit Ratings
DATE: June 19, 2019
International rating agency Moody's downgraded T. Garanti Bankası A.Ş.'s Long-term Foreign Currency Deposits, Long-term Local Currency Deposits, Baseline Credit Assessment and Senior Unsecured ratings by one notch, Adjusted Baseline Credit Assessment by two notches and placed negative outlook on June 18th, 2019 following the Agency's decision to downgrade Turkey's sovereign ratings by one notch from Ba3 to B1 on June 14th, 2019. Short-term ratings and national scale ratings were affirmed.
Bank's current ratings are as follows:
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Former
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Current
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Outlook
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Negative
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Negative
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Long Term FC Deposit
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B2 (Negative)
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B3 (Negative)
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Long Term TL Deposit
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B1 (Negative)
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B2 (Negative)
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Short Term TL Deposit
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Not - Prime
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Not - Prime
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Short Term FC Deposit
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Not - Prime
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Not - Prime
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Baseline Credit Assessment - BCA
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b2
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b3
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Adjusted BCA
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b1
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b3
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Senior Unsecured Rating (Regular Bond)
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B1 (Negative)
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B2 (Negative)
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Senior Unsecured Rating (Medium-Term Note Program)
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(P)B1
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(P)B2
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National Scale Rating (NSR) Long Term Deposit
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A1.tr
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A1.tr
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NSR Short Term
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TR-1
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TR-1
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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
