Ziraat Bank 2015 Annual Report

Credit Ratings Assigned By Rating Agencies

Ziraat Bank’s performance is rated by Fitch Ratings, Moody’s and JCR Eurasia Ratings. In annual meetings held with these agencies, the Bank provides detailed and transparent information on its brand positioning, progress achieved in core lines of business, its funding ability and capital structure.

Credit ratings assigned to the Bank as of 31 December 2015 are presented below:

Rating Agency	Category	Rating	Date
Fitch Ratings⁽¹⁾	Foreign Currency Long-Term IDR	BBB-	October 2015
	Outlook	Stable
	Foreign Currency Short-Term IDR	F3
	Local Currency Long-Term IDR	BBB
	Outlook	Stable
	Local Currency Short-Term IDR	F3
	National Long-Term Rating	AAA (tur)
	Outlook	Stable
	Support Rating	2
	Support Rating Floor	BBB-
	Viability Rating	bbb-
Moody’s⁽²⁾	Outlook	Negative	September 2015
	Long-Term Bank Deposit Foreign Currency	Baa3
	Short-Term Bank Deposit Foreign Currency	P-3
	Long-Term Bank Deposit Domestic Currency	Baa3
	Short-Term Bank Deposit Domestic Currency	P-3
	Baseline Credit Assessment	ba1
	Adjusted Baseline Credit Assessment	ba1
JCR Eurasia⁽³⁾	Long-Term International Foreign Currency	BBB -	November 2015
	Outlook	Stable
	Long-Term International Local Currency	BBB -
	Outlook	Stable
	Long-Term National Local Rating	AAA (Trk)
	Outlook	Stable
	Short-Term International Foreign Currency	A - 3
	Outlook	Stable
	Short-Term International Local Currency	A - 3
	Outlook	Stable
	Short-Term National Local Rating	A-1+ (Trk)
	Sponsor Support	1
	Stand Alone	A

(1) Fitch Ratings confirmed and did not change Ziraat Bank’s ratings on 15 October 2015.
(2) Moody’s confirmed and did not change Ziraat Bank’s ratings on 30 September 2015.
(3) JCR Eurasia Rating confirmed and did not change Ziraat Bank’s ratings on 20 November 2015.