DJ Turkiye Garanti Bankasi A.S.: Announcement regarding Moody's rating upgrade
Turkiye Garanti Bankasi A.S. (TGBD) Turkiye Garanti Bankasi A.S.: Announcement regarding Moody's rating upgrade 24-Jul-2024 / 12:31 GMT/BST =---------------------------------------------------------------------------------------------------------------------- TO: Investment Community FROM: Garanti BBVA / Investor Relations SUBJECT: Announcement regarding Moody's rating upgrade DATE: July 24, 2024 On 19 July 2024, Moody's upgraded the Government of Turkiye's sovereign rating to B1 from B3 ( with a positive outlook) and Turkiye's foreign-currency country ceiling to Ba3 from B2 and the local-currency country ceiling to Ba1 from Ba3. Following this rating action, Moody's upgraded Garanti BBVA's Long Term Foreign and Local Currency Deposit Ratings by three notch to Ba3 from B3 on 23 July 2024. Garanti BBVA's standalone credit assessment (BCA) and Adjusted BCA were also upgraded to b1 and ba3, respectively, from b3. Moody's stated that: "The upgrade of Garanti BBVA's standalone BCA to b1, reflects the improvement of the operating environment and a track record of resilient performance by the bank." Positive outlook on ratings has been maintained. Bank's current ratings are as follows: Moody's Previous Current Outlook Positive Positive Long Term FC Deposit B3 (Positive) Ba3 (Positive) Long Term TL Deposit B3 (Positive) Ba3 (Positive) Short Term TL Deposit Not - Prime Not - Prime Short Term FC Deposit Not - Prime Not - Prime Baseline Credit Assessment - BCA b3 b1 Adjusted BCA b3 ba3 Subordinated Bond (Foreign) Caa2 (hyb) B2 (hyb) Senior Unsecured Rating (Medium-Term Note Program) (P) B3 (P) Ba3 National Scale Rating (NSR) Long Term Deposit A1.tr Aaa.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 OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 336260 EQS News ID: 1953267 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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July 24, 2024 07:31 ET (11:31 GMT)
