trending Market Intelligence /marketintelligence/en/news-insights/trending/oTgF_b9JAVGpxa3e8Pl67A2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

S&P downgrades 5 Turkish banks

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments


S&P downgrades 5 Turkish banks

S&P Global Ratings on July 22 acted on five Turkishbanks following the July 20 downgrade of the sovereign.

S&P downgraded the long-term counterparty credit ratingsof Türkiye Is BankasiAS, Türkiye GarantiBankasi AS and unit Garanti Finansal Kiralama AS, andTürkiye Vakiflar BankasiTAO to BB from BB+.

The short-term counterparty credit ratings of Isbank,Garanti Finansal, Yapi ve Kredi and Vakifbank were affirmed at B.The agency also downgraded the long-term Turkey national scale ratings on Isbank,Vakifbank and Yapi ve Kredi to "trAA-" from "trAA+". Theshort-term Turkey national scale ratings on these entities were affirmed at"trA-1".

The outlook on all five rated entities is negative.

S&P said that in the wake of the failed coup in Turkey,the government and the country's banks face increased risks to their ability toroll over short-term debt. The possible erosion of investor confidence in thecountry could hit lenders' wholesale funding, which is heavily reliant onforeign sources, the agency added, noting that asset quality, earnings andcapitalization could also be hit by "any marked weakening in economicgrowth."

The agency noted the positive effects of decelerating creditgrowth and the authorities' recent proactive measures to banks' liquidity if needed.

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