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International credit rating agency Moody's revised credit ratings of 17 Turkish banks, including İşbank, pursuant to placing Turkish government bond rating on review for downgrade on 1 June 2018.
The agency;
-placed İşbank's Ba3 Long-Term Foreign Currency Deposit Rating on review for downgrade.
-downgraded Long-Term Local Currency Deposit Rating and Foreign Currency Issuer Rating from Ba2 to Ba3 and placed the aforementioned ratings on review for further downgrade.
-affirmed Short-Term Foreign Currency and Local Currency Deposit Rating at NP.
-downgraded Foreign Currency and Local Currency MTN Rating from (P)Ba2 to (P)Ba3 and Foreign Currency Subordinated Debt Rating from B1/B2(hyb) to B2/B3(hyb).
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.