Following the revision of Turkey’s long-term rating outlook from Stable to Negative on 2 December, 2021, Fitch Ratings revised Ziraat Bank’s long-term local currency rating outlook from Stable to Negative on 10 December, 2021. On the other hand, as a result of the methodological change conducted by the organization, the Support Rating and Support Rating Base were abolished and replaced by the Government Support Rating, with this rating determined as “b”. Other ratings have been confirmed.
On 7 January, 2022, JCR Eurasia Rating determined Ziraat Bank’s Long-Term International Foreign Currency and Long-Term International Local Currency rating as BB with a “Stable” outlook in line with the country rating ceiling. It maintained the Long Term National Rating “AAA (Trk)”, Short Term National Rating “A -1+ (Trk)” and outlook as “Stable”.
The current credit rating scores of Ziraat Bank are listed in the table below.Rating Agency |
Category |
Rating |
Revision Date |
Fitch Ratings |
Foreign Currency Long-Term IDR |
B+ |
December 2021 |
Outlook |
Negative |
||
Foreign Currency Short-Term IDR |
B |
||
Local Currency Long-Term IDR |
BB- |
||
Outlook |
Negative |
||
Local Currency Short-Term IDR |
B |
||
National Long-Term Rating |
AA (tur) |
||
Outlook |
Stable |
||
Government Support Rating |
b |
||
Viability Rating |
b+ |
||
|
|
|
|
Moody’s |
Outlook |
Negative |
December 2020 |
Long-Term Bank Deposit Foreign Currency |
B2 |
||
Short-Term Bank Deposit Foreign Currency |
Not-Prime |
||
Long-Term Bank Deposit Domestic Currency |
B2 |
||
Short-Term Bank Deposit Domestic Currency |
Not-Prime |
||
Long-Term Bonds Foreign Currency |
B2 |
||
Long-Term Bonds Domestic Currency |
B2 |
||
Baseline Credit Assessment |
caa1 |
||
Adjusted Baseline Credit Assessment |
caa1 |
||
|
|||
JCR Eurasia |
Long-Term International Foreign Currency |
BB |
January 2022 |
Outlook |
Stable |
||
Long-Term International Local Currency |
BB |
||
Outlook |
Stable |
||
Long-Term National Local Rating |
AAA (Trk) |
||
Outlook |
Stable |
||
Short-Term International Foreign Currency |
B |
||
Outlook |
Stable |
||
Short-Term International Local Currency |
B |
||
Outlook |
Stable |
||
Short-Term National Local Rating |
A-1+ (Trk) |
||
Sponsor Support |
1 |
||
Stand Alone |
A |
||
