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On 7 June 2018, international rating agency Moody's announced that, following the placement of Turkish government's rating under negative review for downgrade on 1 June 2018, it has downgraded ratings of 17 Turkish financial institutions and placed the ratings for negative review for downgrades. Accordingly, the rating agency downgraded Yapı Kredi's Long-term Local Currency Deposits, Baseline Credit Assessment, Adjusted Baseline Credit Assessment, Long term National Scale rating and Senior Unsecured rating by one notch and placed under review for further downgrade, also placing the Long-term Foreign Currency (Ba3) and Short-term National Scale rating (TR-1) on review for downgrade. The rating agency affirmed Yapı Kredi's Short-term ratings. In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail. |
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.