Turkiye Is Bankasi – Ratings Affirmed

Ref: TR 0 3 6 2 2 CRA00- 0 1 19 July 2023

Turkiye Is Bankasi – 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 Turkiye Is Bankasi (Isbank) at ‘B’ and ‘B’, respectively. The Outlook for the LT FCR remains Stable . At the same time, CI Ratings has affirmed Isbank’s Bank Standalone Rating (BSR) of ‘b’ with a Stable Outlook, Core Financial Strength (CFS) rating of ‘bb+’ , and Extraordinary Support Level (ESL) of Uncertain .

Isbank’s BSR is derived from a CFS rating of ‘bb+’ and an Operating Environment Risk Anchor ( OPERA ) of ‘b-’ . The BSR and in turn the LT FCR are constrained by Turkiye’s sovereign LT FCR of ‘ B ’ . OPERA reflects high external liquidity risks due to low external reserve buffers and the…