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Moody's Investors Service Limited ("Moody's") downgraded Turkey's sovereign ratings to Ba3 from Ba2; outlook changed to stable from negative on 17 August 2018. Following the sovereign downgrade, on 28 August 2018, Moody's has taken rating actions on 18 banks and two finance companies in Turkey and announced the VakıfBank's ratings as attachment file: Additionally, following the downgrade of Turkey's local-currency bond ceiling from Baa2 to Ba1, Moody's announced that the ratings of covered bonds issued by the Bank were downgraded from Baa2 to Ba1, which is equal to aforementioned bond ceiling. |
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.