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International rating agency Moody's downgraded 17 Turkish Banks and our Banks T.A.O Long-term Local Currency Deposits, Baseline Credit Assessment, Adjusted Baseline Credit Assessment and Senior Unsecured rating by one notch and placed under review for further downgrade, following the Agency's decision to place Turkey's ratings on review for downgrade on June 1st, 2018. Long-term Foreign Currency (Ba3) is also placed on review for downgrade. Short-term ratings were affirmed. Additionally, following decision to place Turkey's local-currency bond ceiling ratings on review for downgrade, Moody's announced that VakıfBank's Covered Bond program rating (Baa2) is also placed on review for downgrade. According to CMB legislation, in case of a 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.