Moody's Rating Action

Moody's Rating Action

International credit rating agency Moody's revised credit ratings of 18 Turkish banks including İşbank, pursuant to the downgrade of Turkish Sovereign Rating on 14 June 2019.

The agency announced that the Senior Unsecured Debt and Long-Term Local and Foreign Currency Deposit Ratings of İşbank were downgraded to B3 from B2. Outlooks assigned to the aforementioned ratings have been determined as Negative. Short-Term Local Currency and Foreign Currency Deposit Ratings were affirmed at Not-Prime.

The list of the current ratings assigned to İşbank by Moody's is as follows:

Senior Unsecured Debt Rating / Outlook: B3 / Negative

Long-Term Local Currency / Foreign Currency Deposit Rating / Outlook: B3 / Negative

Short-Term Local Currency / Foreign Currency Deposit Rating: Not-Prime