Fitch Rating Action

Fitch Rating Action

International credit rating agency Fitch Ratings revised credit ratings of 14 Turkish financial institutions including İşbank pursuant to downgrading Turkey's sovereign rating on 12 July 2019.

The agency revised down İşbank's Long Term Local Currency Issuer Default Rating to B+ from BB-. The outlook of the rating was determined as Negative. Long Term Foreign Currency Issuer Default Rating, National Long Term Rating, and their outlooks were unaffected by this action.

The list of the current ratings assigned to İşbank by Fitch Ratings is as follows:

- Long Term Foreign Currency Issuer Default Rating: B+

- Long Term Local Currency Issuer Default Rating: B+

- Short Term Foreign Currency Issuer Default Rating: B

- Short Term Local Currency Issuer Default Rating: B

- Viability Rating: b+

- Support Rating: 4

- Support Rating Floor: B

- Short Term Senior Unsecured Debt Rating: B

- Long Term Senior Unsecured Debt Rating: B+/RR4

- Subordinated Debt Rating: B/RR5

- National Long-Term Rating: A+(tur)