Fitch Rating Action

Fitch Rating Action

International credit rating agency Fitch Ratings revised various credit ratings of 20 Turkish banks, including İşbank on 1 October 2018.

The agency downgraded İşbank's

- Long Term Foreign Currency Issuer Default Rating from BB- to B+,

- Long Term Local Currency Issuer Default Rating from BB to BB-,

- National Long Term Rating from AA(tur) to A+(tur),

- Viability Rating from bb- to b+.

The outlook of Long Term Foreign Currency and Local Currency Issuer Default Ratings were determined as Negative, and the outlook of National Long Term Rating was determined as Stable. The agency affirmed the Bank's following ratings:

- Short Term Foreign Currency Issuer Default Rating: B

- Short Term Local Currency Issuer Default Rating: B

- Support Rating: 4