Turk Ekonomi Bankasi’s Ratings Affirmed

Turk Ekonomi Bankasi’s Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has affirmed the L ong-Term F oreign C urrency R ating (LT FCR) and S hort- T erm F oreign C urrency R ating (ST FCR) of Tu rk Ekonomi Bankasi (TEB) at ‘B+’ and ‘B’, respectively. At the same time, CI Ratings has affirmed TEB’s Bank Standalone Rating ( BSR ) at ‘b’ and the Core Financial Strength (CFS) rating at ‘bb-’. The Outlook for the LT FCR and BSR is Stable.

TEB’s BSR is derived from a CFS rating of ‘bb-’, reflecting the moderate intrinsic financial, operational and business strength of the Bank, and an Operating Environment Risk Anchor ( OPERA ) of ‘b’ (indicating significant risk). The latter is a fundamental constraining factor for the ratings of all Turkish banks. The operating environment remains highly challenging because of high external liquidity…