The credit rating services provided by Fitch Ratings to ICBC Turkey Bank A.Ş. has been mutually decided to be cancelled and the rating process was terminated.
The Bank's latest credit ratings affirmed by Fitch on 13 October 2020 are as follows:
Long-Term FC IDR: ‘B+’; Negative Outlook
Long-Term LC IDR: ‘BB-‘; Negative Outlook
Short-Term FC and LC IDRs: ‘B’
Support Rating: ‘4’
Viability Rating: ‘b’
National Long-Term Rating: ‘AA (tur); Stable Outlook
Fitch Ratings has affirmed ICBC Turkey Bank A.Ş.’s Long-Term Foreign Currency (LTFC) Issuer Default Rating at “B+” while revising the Viability Rating to “b” from “b+”.
The current rating notes of the bank have been mentioned below.
National Long-Term Rating: ‘AA(tur); Stable Outlook
Following the outlook revision of Turkey's Long Term IDR on 21.08.2020 from "Stable"
to "Negative", Fitch Ratings revised Long Term Local Currency IDR Outlook of
ICBC Turkey Bank A.Ş. from "Stable" to "Negative".
The current rating notes of the bank have been mentioned below.Long-Term FC IDR: ‘B+’; Negative OutlookLong-Term LC IDR: ‘BB-‘; Negative Outlook Short-Term FC and LC IDRs: ‘B’Support Rating: ‘4’Viability Rating: ‘b+’National Long-Term Rating: ‘AA(tur); Stable Outlook
Fitch Ratings affirmed ICBC Turkey Bank A.Ş.’s Long Term FC IDR rating at “B+” level and revised the outlook from stable to negative on 20 May 2020.
Long-Term LC IDR: ‘BB-‘; Stable Outlook
Viability Rating: ‘b+’
Fitch Ratings revised ICBC Turkey Bank A.Ş.'s Long-Term FC IDR and Long-Term LC IDR's outlooks as "Stable" on 12.11.2019.
Long-Term FC IDR: ‘B+’; Stable Outlook
Fitch Ratings has affirmed ICBC Turkey Bank A.Ş.’s rating notes on 15 October 2019 as mentioned below. Long-Term FC IDR: ‘B+’; Negative Outlook Long-Term LC IDR: ‘BB-‘; Negative Outlook Short-Term FC and LC IDRs: ‘B’ Support Rating: ‘4’ Viability Rating: ‘b+’ National Long-Term Rating: ‘AA(tur); Stable Outlook
Following the downgrade of Turkey's sovereign rating by one notch to “BB-“ from “BB” on 12 July 2019; Fitch Ratings has revised 14 Turkish Financial Institutions’ ratings including ICBC Turkey on 19 July 2019. Fitch Ratings revised our bank’s Long-Term FC IDR to “B+” from “ BB-“ , Long-Term LC IDR to “BB-“ from “BB” and Support Rating as “4”. Other rating notes and outlooks has not been changed. Current ratings of our bank is mentioned below: Long-Term FC IDR: ‘B+’; Negative Outlook Long-Term LC IDR: ‘BB-‘; Negative Outlook Short-Term FC and LC IDRs: ‘B’ Support Rating: ‘4’ Viability Rating: ‘b+’ National Long-Term Rating: ‘AA(tur); Stable Outlook
Fitch Ratings has affirmed the credit notes of ICBC Turkey Bank A.Ş. on 23 October 2018 as mentioned below.Long-Term LC IDR: “BB”, Negative OutlookLong-Term FC IDR: “BB-”, Negative OutlookShort-Term FC and LC IDRs: “B”Viability Rating: “b+”Support Rating: “3”National Long-Term Rating: “AA(tur)”, Stable Outlook
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