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Standard & Poor's (S&P) announced on their report dated August 17, 2018 that they now assess Turkey's Banking Industry Country Risk Assessment (BICRA) as being in Group 9. As a result, they have revised down their bank anchor to ‘b+' from ‘bb' and this led to downward revision of the stand-alone credit profile and long-term issuer credit rating on six Turkish banks. Consequently, S&P revised down Türkiye Garanti Bankası A.Ş (the Bank)'s Long Term Foreign Currency and Long Term Local Currency ratings from "BB-" to "B+" and the Bank's Stand-Alone Credit Profile (SACP) rating from "bb" to "b+". In addition, S&P revised down the rating outlook from "Stable" to "Negative". *In 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.