Turkiye Is Bankasi A S : Fitch Ratings Changed Isbank's Ratings
June 25, 2014 at 02:52 am EDT
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On 24 June 2014, the international credit rating agency Fitch Ratings downgraded Isbank's Long Term Local Currency and Foreign Currency Issuer Default Ratings to BBB- from BBB, National Long Term Rating to AA+(tur) from AAA(tur), Viability Rating to bbb- from bbb, Senior Unsecured Notes to BBB- from BBB, Subordinated Debt Notes to BB+ from BBB- and affirmed the other ratings.
Outlooks assigned to Long Term Local Currency and Foreign Currency Issuer Default Ratings and National Long Term Rating have been determined as Stable.
The list including the current ratings given to Isbank by Fitch Ratings is as follows:
Long Term Foreign Currency Issuer Default Rating: BBB-
Long Term Foreign Currency Issuer Default Rating Outlook: Stable
Long Term Local Currency Issuer Default Rating: BBB-
Long Term Local Currency Issuer Default Rating Outlook: Stable
Short Term Foreign Currency Issuer Default Rating: F3
Short Term Local Currency Issuer Default Rating: F3
National Long Term Rating: AA+(tur)
National Long Term Rating Outlook: Stable
Viability Rating: bbb-
Support Rating: 3
Support Rating Floor: BB+
Senior Unsecured Notes: BBB-
Subordinated Debt Notes: BB+
Turkiye Is Bankasi AS is a Turkey-based banking institution. It operates under the following business segments: Corporate, Commercial, Retail and Private Banking, as well as Treasury/Investment Banking. Its Corporate and Commercial Banking segments provide services to large corporations, Small and Medium Enterprises (SMEs) and other trading companies, such as operating and investment loans, deposit and cash management, foreign trade transactions and financing, foreign currency trading and other banking services. Its Retail Banking services are comprised of individuals needs such as deposits, consumer loans, credit cards, foreign currency trading, insurance and other banking services. The Private Banking category is comprised of financial and cash management related services provided for individuals within the high-income segment. Treasury transactions are comprised of medium and long term funding tools. Its investments in associates and subsidiaries fall under Investment Banking.