Kuveyt Turk Katilim Bankasi’s Ratings Affirmed with a Stable Outlook

Kuveyt Turk Katilim Bankasi’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 Kuveyt Turk Katilim Bankasi A. S. (KTKB) at ‘B+’ and ‘B’ , respectively. At the same time, CI Ratings has affirmed KTKB’s Bank Standalone Rating (BSR) of ‘b’ and Core Financial Strength (CFS) rating of ‘bb-’. The Outlook for the LT FCR and BSR remains Stable.

The Bank’s BSR is derived from a CFS rating of ‘bb-’, reflecting the Bank’s moderate financial, operational , and business strength, and an operating environment risk anchor (OPERA) of ‘b’ (indicating significant risk). Although the likelihood of extraordinary support in the event of need is considered h igh, the Bank’s LT…