Regarding the Credit Ratings

Regarding the Credit Ratings

International credit rating agency Fitch Ratings revised credit ratings of 24 Turkish banks, including İşbank, pursuant to downgrading Turkey's sovereign rating on 13 July 2018.

The agency revised down İşbank's

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

- Long Term Local Currency Issuer Default Ratings from BB+ to BB,

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

- Viability Rating from bb+ to bb-,

- Long Term Senior Unsecured Debt Rating from BB+ to BB-,

- Subordinated Debt 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

- Short Term Senior Unsecured Debt Rating: B