Moody's Rating Action

Moody's Rating Action

International credit rating agency Moody's revised credit ratings of 20 Turkish financial institutions, including İşbank, pursuant to the downgrade of Turkish sovereign rating, on 17 August 2018.

The agency announced that the Long-Term Local Currency and Foreign Currency Issuer and Long-Term Local and Foreign Currency Deposit Ratings of İşbank were downgraded to B2 from Ba3. Outlooks assigned to the aforementioned ratings have been determined as Negative. Short Term Local Currency and Foreign Currency Deposit Ratings were affirmed at Not-Prime.

The list of the current ratings assigned to İşbank by Moody's is as follows:

Long-term Foreign Currency / Local Currency Issuer Rating / Outlook: B2 / Negative

Long-term Foreign Currency / Local Currency Deposit Rating / Outlook: B2 / Negative

Short-term Foreign Currency / Local Currency Deposit Rating: Not-Prime / Not-Prime