Turkiye Halk Bankasi’s Ratings Affirmed

Turkiye Halk Bankasi’s Ratings Affirmed

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 Türkiye Halk Bankasi (Halk) at ‘B’ and ‘B’, respectively. At the same time, CI Ratings has affirmed Halk’s Bank Standalone Rating (BSR) and Core Financial Strength (CFS) rating of ‘b-’ and ‘b’, respectively, and the Extraordinary Support Level (ESL) of Moderate. The Outlook for the LT FCR and BSR remains Negative.

Halk’s LT FCR is set one notch above the BSR due to the ESL of Moderate. The ESL takes into consideration the Bank’s majority government ownership and ongoing ordinary support as well as o ur view that Turkey’s financial capacity is somewhat constrained as reflected by the sovereign ratings (‘B+’/ ‘B’/ Negative) .

Halk’s BSR is derived…