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On April 1, 2022, international rating agency Fitch Ratings has affirmed Turkiye Vakiflar Bankasi T.A.O.'s (Vakifbank) Long-Term Foreign Currency Issuer Default Rating (LTFC IDR) at 'B' and its Long-Term Local Currency (LTLC) IDR at 'B+'. The Outlooks are on Negative.
Fitch has also downgraded the Viability Rating (VR) to 'b' from 'b+' and removed it from Rating Watch Negative (RWN). The current ratings of the bank are attached.
According to CMB legislation, in case of a contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.
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We proclaim that our above disclosure is in conformity with the principles set down in “Material Events Communiqué” of Capital Markets Board, and it fully reflects all information coming to our knowledge on the subject matter thereof, and it is in conformity with our books, records and documents, and all reasonable efforts have been shown by our Company in order to obtain all information fully and accurately about the subject matter thereof, and we’re personally liable for the disclosures.