Turkiye Garanti Bankasi A.S.: Announcement regarding Fitch Ratings
Fitch Ratings has upgraded Garanti BBVA’s Long-Term Foreign Currency and Local-Currency Issuer Default Ratings (IDRs) to “B” from “B-“ and to “B+” from “B”, respectively and revised the Outlooks to “Positive” from “Stable” on March 15, 2024.
- Fitch Ratings has upgraded Garanti BBVA’s Long-Term Foreign Currency and Local-Currency Issuer Default Ratings (IDRs) to “B” from “B-“ and to “B+” from “B”, respectively and revised the Outlooks to “Positive” from “Stable” on March 15, 2024.
- The rating action follows the upgrade of Türkiye's Long-Term IDR to “B+/Positive” from “B/Stable” on March 8th, 2024.
- The agency has also upgraded the Bank’s Long-Term Senior Unsecured Debt and Subordinated Debt ratings to “B” from “B-“ and to “B-“ from “CCC+”, respectively and the Shareholder Support rating to “b” from “b-“.
- The Bank’s Viability Rating has also been placed on Rating Watch Positive (RWP) at “b”.