published on 07/24/2024 at 13:36 on Turkiye Garanti Bankasi A.S. (isin : US9001487019)

Turkiye Garanti Bankasi A.S.: Moody’s Rating Upgrade

On July 19, 2024, Moody’s upgraded Turkey’s sovereign rating to B1 from B3 with a positive outlook. The foreign-currency ceiling was raised to Ba3 from B2, and the local-currency ceiling to Ba1 from Ba3. Following this action, Moody’s upgraded Garanti BBVA’s Long Term Foreign and Local Currency Deposit Ratings to Ba3 from B3 on July 23, 2024.

Garanti BBVA’s standalone credit assessment (BCA) was upgraded to b1 from b3, and the Adjusted BCA to ba3 from b3. Moody’s cited the improvement of the operating environment and the bank’s resilient performance as reasons for the upgrade. The positive outlook on ratings remains unchanged.

Garanti BBVA’s current ratings reflect significant improvement:R. H.

Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.

Financial Performance Investor Relations Garanti BBVA Credit Rating Long Term FC Deposit: Ba3 (Positive) Long Term TL Deposit: Ba3 (Positive) Short Term TL Deposit: Not-Prime Short Term FC Deposit: Not-Prime BCA: B1 Adjusted BCA: Ba3 Subordinated Bond: B2 Senior Unsecured Rating: (P) Ba3 NSR Long Term Deposit: Aaa.tr NSR Short Term: TR-1 Moody’s Upgrade

Click here to consult the press release on which this article is based

See all Turkiye Garanti Bankasi A.S. news