Burgan Bank Turkey’s Ratings Affirmed with a Stable Outlook

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 (BBT) at ‘B+’ and ‘B’, respectively. At the same time , CI Ratings has affirmed BBT’s Bank Standalone Rating (BSR) of ‘b’ and Core Financial Strength (CFS) rating of ‘b+’. The Outlook for the LT FCR and BSR is Stable.

BBT’s BSR is derived from a CFS rating of ‘b+’ and an Operating Environment Risk Anchor (OPERA) of ‘ b’ indicating significant risk. The latter is a fundamental constraining factor for th e ratings of all Turkish banks. The operating environment remai ns highly challenging due to high external liquidity risks given low external reserve buffers, and high-short-term external debt stocks at banks and…