2020 INTEGRATED ANNUAL REPORT
CREDIT RATINGS ASSIGNED BY RATING AGENCIES

After updating the country ceiling methodology for deposit on December 7, 2020, Moody’s raised Ziraat Bank’s long-term foreign currency deposit rating from Caa1 to B2 on December 10, 2020.

Updating Turkey’s credit rating outlook from “Stable” to “Negative” on August 21, 2020, Fitch Ratings also updated Ziraat Bank’s Long-Term Local Currency IDR credit rating outlook from “Stable” to “Negative” on September 1, 2020 and confirmed the grade level.

On December 30, 2020, JCR Eurasia Rating has determined Ziraat Bank’s Long Term International Foreign Currency and Long Term International Local Currency ratings and outlooks as “BB+/Negative” in line with the country rating ceiling. Affirmed Long Term National Rating as “AAA (Trk)”, Short Term National Rating as “A-1 + (Trk)” and outlook as “Stable”.

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

Rating Agency

Category

Rating

Revision Date

Fitch Ratings

Foreign Currency Long-Term IDR

B+

September 2020

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

Outlook

Stable

Support Rating

4

Support Rating Floor

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+

December 2020

Outlook

Negative

Long-Term International Local Currency

BB+

Outlook

Negative

Long-Term National Local Rating

AAA (Trk)

Outlook

Stable

Short-Term International Foreign Currency

B

Outlook

Negative

Short-Term International Local Currency

B

Outlook

Negative

Short-Term National Local Rating

A-1+ (Trk)

Sponsor Support

1

Stand Alone

A

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