Turkiye Garanti Bankasi : Following the revision of the outlook on Turkey's Long-Term IDRs to Negative from Stable on 21 August 2020; International rating agency Fitch Ratings has revised the outlook on Garanti’s Long Term LC IDR to “Negative” from Stable on 1 September 2020.
September 02, 2020 at 04:19 am EDT
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Announcement regarding Fitch Credit Ratings
Announcement regarding Fitch Credit Ratings
Following the revision of the outlook on Turkey's Long-Term IDRs to Negative from Stable on 21 August 2020; International rating agency Fitch Ratings has revised the outlook on Garanti's Long Term LC IDR to 'Negative' from Stable on 1 September 2020.
Bank's current ratings are as follows.
Former
Current
Long Term FC IDR
B+/ Negative Outlook
B+/ Negative Outlook
Short Term FC IDR
B
B
Long Term TL IDR
BB-/ Stable Outlook
BB-/ Negative Outlook
Short Term TL IDR
B
B
Viability Rating
b+
b+
Support
4
4
National Long-term Rating
AA(tur)
AA(tur)
National Long-term Rating Outlook
Stable
Stable
Long Term Senior Unsecured Notes
B+
B+
Short Term Senior Unsecured Notes
B
B
Subordinated Notes
B
B
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Turkiye Garanti Bankasi AS published this content on 02 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 September 2020 08:19:06 UTC
Turkiye Garanti Bankasi AS is a Turkey-based banking institution. It operates under the following business segments: Retail Banking, Corporate/Commercial Banking and Investment Banking. The banking products served to customers are: custody services, time and demand deposits, accumulating deposit accounts, repos, overdraft facilities, spot loans, foreign currency indexed loans, consumer loans, automobile and housing loans, working capital loans, discounted bills, gold loans, foreign currency loans, Eximbank loans, pre-export loans, Export Credit Agency (ECA) covered financing, letters of guarantee, letters of credit, export factoring, acceptance credits, draft facilities, forfeiting, leasing, insurance, forward, futures, salary payments, investment account (ELMA), cheques, safety boxes, bill payments, tax collections and payment orders. The Bank provides service packages to its corporate, commercial and retail customers including deposit, loans, leasing and factoring, among others.
Turkiye Garanti Bankasi : Following the revision of the outlook on Turkey's Long-Term IDRs to Negative from Stable on 21 August 2020; International rating agency Fitch Ratings has revised the outlook on Garanti’s Long Term LC IDR to “Negative” from Stable on 1 September 2020.
TURKIYE GARANTI BANKASI 
