2014 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 2014 are presented below:

Rating Agency Category Rating Date
Fitch Ratings1 Foreign Currency Long-Term BBB- November 2014
Outlook Stable
Foreign Currency Short-Term F3
Local Currency Long-Term BBB
Outlook Stable
Local Currency Short-Term F3
National Long-Term AAA (tur)
Outlook Stable
Support Rating 2
Support Rating Floor BBB-
Financial Viability Rating bbb-
Moody’s2 Long-Term Foreign Currency Deposits Baa3 December 2014
Outlook Negative
Short-Term Foreign Currency Deposits P-3
Long-Term Local Currency Deposits Baa3
Outlook Negative
Short-Term Local Currency Deposits P-3
Financial Strength D+
Outlook Negative
Baseline Credit Assessment ba1
JCR Eurasia3 Long-Term Foreign Currency Rating BBB - November 2014
Outlook Stable
Long-Term International Local Currency Rating BBB -
Outlook Stable
Long-Term National Rating AAA (Trk)
Outlook Stable
Short-Term International Foreign Currency Rating A - 3
Outlook Stable
Short-Term International Local Currency Rating A - 3
Outlook Stable
Short-Term National Rating A-1+ (Trk)
Sponsored Support 1
Stand-Alone Rating A


1) Fitch Ratings confirmed and did not change Ziraat Bank’s ratings on 24 November 2014.
2) Moody’s decreased the Bank’s Short and Long Term Local Currency Deposit Rating from Baa2/Prime 2 to Baa3/Prime3 on 3 June 2014. Moody’s confirmed the Bank’s other ratings and transformed all rating outlook to negative. On 1 December 2014, Moody’s confirmed and did not change the Bank’s ratings.
3) JCR Eurasia Rating confirmed the Bank’s ratings on 10 November 2014 and considered the Bank under the category of investible at highest level.