Economic Research | Country Risk Weekly Bulletin | Country Risk Weekly Bulletin 528 | Agency takes rating actions on 17 banks | Lebanon | Byblos Bank

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Byblos Bank

Country Risk Weekly Bulletin 528

Home Economic Research Country Risk Weekly Bulletin 528 Agency takes rating actions on 17 banks
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Agency takes rating actions on 17 banks

Moody's Investors Service downgraded from 'Ba1' to 'Ba2' the long-term debt and local-currency deposit ratings of Ziraat Bankasi, Akbank, Turkiye IS Bankasi (Isbank), Turkiye Garanti Bankasi, Yapi ve Kredi Bankasi (YapiKredi), Turkiye Vakiflar Bankasi, Turk Ekonomi Bankasi, Turkiye Sinai Kalkinma Bankasi, Export Credit Bank of Turkey, Alternatifbank, QNB Finansbank and ING Bank, and from 'Ba2' to 'Ba3' the ratings of Turkiye Halk Bankasi (Halkbank). It also affirmed at 'Ba2' the ratings of Denizbank, at 'Ba3' those of HSBC Bank Turkey and Odea Bank, and at 'B2' the ratings of Sekerbank. Further, it maintained the 'negative' outlook on the ratings of Isbank, YapiKredi, Halkbank, Denizbank and HSBC Bank Turkey, while it revised the outlook on the ratings of the remaining banks from 'negative' to 'stable'. The agency attributed the downgrade of the banks’ ratings to its similar action on the sovereign ratings, which reflects the weakening capacity of the Turkish government to provide support in case of need, as well as a challenging operating environment. 


Source: Moody's Investors Service

 
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Byblos Bank S.A.L., Byblos Bank Headquarters, Elias Sarkis Ave., Ashrafieh, Beirut

List of Banks No.39, CRB:14150, BDL Authorization No. 11/231 Dated 14 May 2005

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