Burgan Bank Turkey’s Ratings Affirmed with a Stable Outlook
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Burgan Bank Turkey’s Ratings Affirmed with a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Burgan Bank A. Ş . – Turkey (BBT) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed BBT’s Bank Standalone Rating ( B SR) of ‘b’ and Core Financial Strength ( CFS) rating of ‘b+’. The Outlook for the LT FCR and BSR remains Stable .
BBT’s BSR is derived from a CFS rating of ‘b+’, reflecting the Bank’s weak intrinsic financial, operational and business strength, and an Operating Environment Risk Anchor (OPERA) of ‘b’ indicating significant risk. The BSR reflects increased pressure on the Bank arising from the weaker operating environment.
BBT’s LT FCR remains one notch above the BSR due to the high likelihood of extraordinary…