The international credit rating agency Fitch Ratings downgraded Turkey’s long-term credit rating to “B” on 8 July, 2022 and announced a negative outlook. Subsequently, on 26 July 2022, the institution, which took negative action for 25 Turkish banks, downgraded Ziraat Bank’s long-term foreign currency rating to “B-”, its long-term local currency rating to “B” and its financial capacity rating to “b-” while announcing its support rating as “no support” - “ns”.

The international credit rating agency Moody’s downgraded Turkey’s long-term credit rating to “B3” on 12 August 2022. Later, on 16 August 2022, the institution, which carried out downward revisions to the ratings of 17 Turkish banks, downgraded Ziraat Bank’s long-term local and foreign currency bond and deposit ratings to “B3” and changed its negative rating outlook to stable.

On 13 January 2023, Ziraat Bank’s Long Term International Local and Foreign Currency credit ratings were affirmed by JCR Eurasia with the outlook for the ratings revised as “Negative”. In addition, JCR Eurasia updated the Bank’s Short-Term National credit rating from “A-1+(Trk)” to “J1+(tr)” within the scope of the change in the grading methodology.

The current credit rating scores of Ziraat Bank are listed in the table below.