246 İşbank
Annual Report 2015
Türkiye İş Bankası A.Ş.
Notes to the Consolidated Financial Statements
for the Year Ended 31 December 2015
SECTION SIX: OTHER EXPLANATIONS
I. Explanation on the Group’s Credit Ratings:
Türkiye İş Bankası A.Ş.
Rating
Outlook
(1)
Explanation
MOODY’S
Long-term Foreign Currency Deposit
Baa3
Negative
It is the highest rating in this category determined ceiling of Turkey.
Long-term Local Currency Deposit
Baa3
Negative
Indicates that the Bank’s credibility is adequate.
Long-term Foreign Currency Senior Debt
Baa3
Negative
Indicates that the Bank’s credibility is adequate.
Short-term Foreign Currency Deposit
P-3
-
The Highest rating depending on the country ceiling for Turkey in this category.
Short-term Local Currency Deposit
P-3
-
Indicates that the Bank’s credibility is moderate.
FITCH RATINGS
Long-term Foreign Currency Issuer Default
Rating
BBB-
Stable
At investment level. Shows that the Bank’s credibility is good.
Long-term Local Currency Issuer Default
Rating
BBB-
Stable
At investment level. Shows that the Bank’s credibility is good.
Short-term Foreign Currency Issuer
Default Rating
F3
- At investment level. Shows that the capacity for timely payment of financial commitments is adequate.
Short-term Local Currency Issuer Default
Rating
F3
- At investment level. Shows that the capacity for timely payment of financial commitments is adequate.
National Long-term Rating
AA+ (tur)
Stable
Shows high credit quality (national).
Viability Rating
bbb-
-
Shows that the Bank’s credibility is “good”. Basic financial indicators are adequate.
Support Rating
3
-
There is a moderate probability of support.
STANDARD & POOR’S
Long-term Counterparty Credit Rating
BB+
Negative
Same as the FC country rating given for Turkey.
Short-term Counterparty Credit Rating
B
-
Indicates that it has the capacity to meet its financial commitment on the obligation.
Long-term National Scale Rating
trAA+
-
Indicates that its capacity to meet its financialcommitments on the obligation is strong.
Short-term National Scale Rating
trA-1
-
It is the highest rating in this category and indicates that the Bank’s capacity to pay its short-term debt
is higher than the other institutions in the country.
The dates below given are on which the Parent Bank’s credit ratings/outlook was last updated:
Moody’s: 29 September 2015, Fitch Ratings: 16 June 2015, Standard & Poor’s: 11 February 2014.
(1)
Outlook:
“Stable” indicates that the current rating will not be changed in the short term; “positive” indicates that the current rating is very likely to be upgraded and “negative” indicates that the
current rating is very likely to be downgraded.
Türkiye Sınai Kalkınma Bankası A.Ş.
Rating
Outlook
MOODY’S
Baseline Credit Assessment
Ba2
-
Long-term Foreign Currency Issuer Rating
Baa3
Negative
Short-term Foreign Currency Issuer Rating
P-3
-
Long-term Local Currency Issuer Rating
Baa3
Negative
Short-term Local Currency Issuer Rating
P-3
-
Senior Unsecured Debt Foreign Currency Issuer Rating
Baa3
Negative
FITCH RATINGS
Long-term Foreign Currency Issuer Default Rating
BBB-
Stable
Long-term Local Currency Issuer Default Rating
BBB
Stable
Short-term Foreign Currency Issuer Default Rating
F3
-
Short-term Local Currency Issuer Default Rating
F3
-
National Rating
AAA
Stable
Support Rating
2
-
Support Rating
BBB-
-
Senior Unsecured Loan Rating
BBB-
-
The dates below given are on which the TSKB’s credit ratings were last updated:
Moody’s: 23 October 2015, Fitch Ratings: 15 October 2015.
