trending Market Intelligence /marketintelligence/en/news-insights/trending/nS8C4Vu3ikB6wsbLn3R_IQ2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

S&P Global Ratings revises outlooks on 4 Turkish banks

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


S&P Global Ratings revises outlooks on 4 Turkish banks

S&P Global Ratings on May 10 revised to stable fromnegative the outlooks on Yapi veKredi Bankasi AS, Türkiye Garanti Bankasi AS and its core unit, ,and Turkish government-owned Türk Eximbank.

The outlook revisions followed a similar on the Turkish sovereign.

S&P Global Ratings affirmed the BB+ long-termcounterparty credit ratings of Yapi Kredi, Garanti Bankasi and Garanti Leasingand the B short-term ratings of Yapi Kredi and Garanti Leasing. The trAA+/trA-1long- and short-term Turkey national scale ratings on Yapi Kredi were alsoaffirmed.

The agency also affirmed Türk Eximbank's BB+/B long- andshort-term foreign-currency ratings and BBB-/A-3 long- and short-termlocal-currency credit ratings. Türk Eximbank's ratings reflect the agency'sexpectation that the Turkish government will likely provide the lender"timely and sufficient extraordinary support" in the event offinancial distress.

S&P Global Ratings said the stable outlooks on YapiKredi, Garanti Bankasi and Garanti Leasing reflect its expectation that theentities would receive support from their foreign parents if their stand-alonecredit profiles were to worsen as a result of deteriorating operatingconditions in Turkey.

S&P Global Ratingsand S&P Global Market Intelligence are owned by S&P Global Inc.