On 11 February 2022, international rating agency Fitch Ratings downgraded Turkey’s Long-term Foreign Currency Issuer Default Rating (IDR) from “BB-“ to “B+” and Country Ceiling Rating from “BB-“ to “B+”, confirming the outlook as “Negative”. Following this decision, Fitch revised TEB’s Long Term FC Issuer Default Rating (IDR) from “B+” to “B” and Long-Term LC Issuer Default Rating (IDR) from “BB-“ to “B+” on 25 February 2022. In addition, Fitch downgraded the Bank’s Long-Term Senior Unsecured Debt rating from “B+” to “B”.
The Bank’s current ratings are as follows:
|
Rating |
Outlook |
| Long-Term FC Issuer Default Rating |
B |
Negative |
| Long-Term LC Issuer Default Rating |
B+ |
Negative |
| Short-Term FC and LC Issuer Default Rating |
B |
|
| Viability Rating |
B+ |
Rating Watch Negative |
| National |
AA (tur) |
Stable |
| Shareholder Support Rating |
B |
|
| Long-Term/Short-Term Senior Unsecured Debt |
B |
|
