190
İş Bankası
Annual Report 2013
Financial Information and Risk Management
TÜRKİYE İŞ BANKASI A.Ş.
Notes to the Unconsolidated Financial Statements
for the Year Ended 31 December 2013
SECTION SIX: OTHER EXPLANATIONS
I. Explanations on the Bank’s Credit Ratings:
Rating
Outlook
(1)
Explanation
MOODY’S
Bank Financial Strength
D+
Stable Indicates that the Bank’s stand-alone financial strength
is adequate.
Long-term Foreign Currency Deposit
Baa3
Stable The Highest rating depending on the country ceiling for
Turkey in this category.
Long-term Local Currency Deposit
Baa2
Stable 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-2
-
Indicates that the Bank’s credibility is high.
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
AAA (tur)
Stable Shows highest 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 financial
commitments 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 Bank’s credit ratings/outlook was last updated:
Moody’s: 20 May 2013, Fitch Ratings: 31 October 2013, 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.
