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On 17 August 2018, International Rating Agency Moody's has downgraded Turkey's Sovereign rating from "Ba2" to "Ba3" and changed the outlook to "Negative". Following the Downgrade of Turkey's Sovereign rating, on 28 August 2018 Moody's has downgraded ratings of 18 Turkish financial institutions, including Yapı ve Kredi Bankası. Accordingly, the rating agency downgraded Yapı ve Kredi Bankası's Long-term Foreign Currency and Local Currency Deposit ratings from "Ba3" to "B1" setting the outlook as "Negative". On the other hand, Moody's confirmed the Short-term National Scale rating at "TR-1". |
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.