Turkiye Garanti Bankasi A.S.
Announcement regarding Fitch Ratings
- Fitch Ratings upgraded Garanti BBVA's Long-Term FC and LC IDRs to "B" and "B+", with Positive Outlooks.
- Viability Rating placed on Rating Watch Positive at "b", Shareholder Support rating upgraded to "b".
- Current ratings include Long-Term FC IDR B/Positive Outlook, Short-Term FC IDR B, and National Long Term Rating AA(tur).
Turkiye Garanti Bankasi A.S. (TGBD) TO: Investment CommunityFROM : Garanti BBVA / Investor RelationsSUBJECT: 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 Diskutieren Sie über die enthaltenen Werte |