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On 1 October 2018, International rating agency Fitch has revised some of the ratings of Yapı ve Kredi Bankası, along with 20 Turkish banks. Accordingly, the rating agency downgraded the Long Term Foreign Currency Issuer Default Rating of the bank to ‘BB-‘ from ‘BB', Long Term Local Currency Issuer Default Rating to ‘BB' from ‘BB+', National Long Term Rating to ‘AA' from ‘AAA', Viability Rating to ‘b+' from ‘bb-' and Long Term Subordinated Debt Rating to ‘B+' from ‘BB-'. Fitch maintained the Negative outlook for the Bank. The rating agency, on the other hand, affirmed the bank's Short Term Foreign and Local Currency Issuer Default Ratings and Support Rating of Yapı ve Kredi Bankası. In 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.