on Turkiye Garanti Bankasi A.S. (isin : US9001487019)
Fitch Ratings Upgrades Garanti BBVA's Credit Ratings
On September 17, 2024, Fitch Ratings made a significant upgrade to Garanti BBVA's credit ratings. This follows Türkiye’s improved credit rating, which was raised from "B+" to "BB-" on September 6, 2024. Consequently, Garanti BBVA's Long-Term Foreign Currency and Local Currency IDRs were upgraded from "B" to "BB-" and from "B+" to "BB-", respectively, with a Stable outlook.
Additionally, Fitch raised Garanti BBVA's Viability Rating from "b+" to "bb-". Other ratings affected include Long Term and Short Term Senior unsecured notes, which saw improvements as well.
These upgrades reflect Garanti BBVA's enhanced creditworthiness and financial position. The bank's detailed ratings as of September 17, 2024, are: Long Term FC IDR at "BB-" with Stable Outlook, Long Term TL IDR at "BB-" with Stable Outlook, and Viability Rating at "bb-".
R. P.
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