Türk Ekonomi Bankasi’s Ratings Affirmed with a Stable Outlook

Türk Ekonomi 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 Türk 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 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 Bank’s LT FCR is set one notch above the BSR to reflect the Extraordinary Support Level (ESL) of Moderate.

What was already a highly challenging operating environment has been put under further stress…