12 Mar 2018 11:54
Moody's Rating Action
International credit rating agency Moody's revised credit ratings of 14 Turkish banks, including İşbank, pursuant to the downgrade of Turkish sovereign rating, on 7 March 2018.
The agency announced that the Long-Term Local Currency and Foreign Currency Issuer and Long-Term Local Currency Deposit Ratings of İşbank were downgraded to Ba2 from Ba1. The Bank's Long-Term Foreign Currency Deposit Rating, which was constrained by sovereign ceiling, was downgraded to Ba3 from Ba2. 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:
Long-Term Foreign Currency Issuer Rating / Outlook: Ba2 / Negative
Long-Term Foreign Currency Deposit Rating / Outlook: Ba3 / Negative
Long-Term Local Currency Deposit Rating / Outlook: Ba2 / Negative
Short-Term Foreign Currency / Local Currency Deposit Rating: Not-Prime / Not-Prime
Turkiye Gdr Rgs (TIBD)