Moody's gives Finansbank program Ba2

Moody's Investors Service said it affirmed all the ratings of Turkey's Finansbank AS and changed the outlook on the bank financial strength rating and all of the bank's long-term ratings to stable from negative.

At the same time, the agency raised the bank's baseline credit assessment to b1 from b2 and assigned a provisional Ba2 long-term local-currency and provisional Not Prime short-term local- and foreign-currency senior unsecured debt ratings to the global medium-term note program.

The affirmation of the ratings on Finansbank's foreign-currency senior unsecured debt and global medium-term note program follows the affirmation of the bank's long-term deposit ratings, as these ratings are at the same level (Ba2) and are not constrained by the applicable country ceilings.

The ratings assigned to the global medium-term note program are in line with Finansbank's global local currency deposit ratings and are not constrained by the applicable ceilings.

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