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International credit rating agency S&P Global Ratings revised credit ratings of 6 Turkish financial institutions, including İşbank, pursuant to the downgrade of Turkish sovereign rating, on 1 May 2018.
The agency revised the Long-term Issuer Credit Rating on İşbank from BB to BB-; and the Long-term Turkey National Scale Rating on İşbank from trAA- to trA+. The rating agency affirmed İşbank's other ratings. The outlook of Long-term Issuer Credit Rating was determined as Stable.
The list of the current ratings assigned to İşbank by S&P Global Ratings is as follows:
Long-term Issuer Credit Rating / Outlook: BB- / Stable
Short-term Turkey National Scale Rating: B
Long-term Turkey National Scale Rating: trA+
Short-term Turkey National Scale Rating: trA-1
This is the translation of the Turkish public disclosure made by Türkiye İş Bankası A.Ş. through the Public Disclosure Platform, under the Material Events Guideline prepared in accordance with the Communique of Material Events, numbered II-15.1. According to the Material Events Guideline and the regulations, the Turkish public disclosure 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.