Turkiye Is Bankasi A S : Fitch Ratings Changed Isbank's Support Rating Floor
December 03, 2014 at 08:02 am EST
Share
Fitch Ratings Changed Isbank's Support Rating Floor
On 1 December 2014, the international credit rating agency Fitch Ratings downgraded Isbank's Support Rating Floor to BB- from BB+; all other ratings and outlooks are unaffected by this rating action.
In the disclosure made by Fitch Ratings, it is stated that the aforementioned change reflects the rating agency's reassessment of the Turkish sovereign's ability to provide support to the banks in foreign currency.
"This is a translation of the original public disclosure in Turkish made by İşbank through the Public Disclosure Platform (www.kap.gov.tr), which is to be accepted as the main source of public disclosures. The original public disclosure in Turkish is the only definitive and official version. If there is any discrepancy between the Turkish public disclosure and the English translation of it, the Turkish public disclosure shall prevail. The translation is for informational purposes only and is provided by İşbank for convenience to non-Turkish speaking parties. However, İşbank cannot guarantee the accuracy, completeness or correctness of the translation. İşbank does not accept any liability whatsoever for any direct or consequential loss arising from any use of this translation due to any misleading information that may be found in the translation. Any person or entity who relies on information contained in the translation does so at his or her own risk."
Turkiye Is Bankasi AS is a Turkey-based banking institution. It operates under the following business segments: Corporate, Commercial, Retail and Private Banking, as well as Treasury/Investment Banking. Its Corporate and Commercial Banking segments provide services to large corporations, Small and Medium Enterprises (SMEs) and other trading companies, such as operating and investment loans, deposit and cash management, foreign trade transactions and financing, foreign currency trading and other banking services. Its Retail Banking services are comprised of individuals needs such as deposits, consumer loans, credit cards, foreign currency trading, insurance and other banking services. The Private Banking category is comprised of financial and cash management related services provided for individuals within the high-income segment. Treasury transactions are comprised of medium and long term funding tools. Its investments in associates and subsidiaries fall under Investment Banking.
TÜRKIYE IS BANKASI 