Moody's says Is­bank out­look sta­ble

The Pak Banker - - Front Page -

FRANKFURT

Global rat­ing agency Moody's has to­day as­signed a first-time Ba2 for­eign-cur­rency sub­or­di­nated debt rat­ing to the se­nior sub­or­di­nated debt is­suance by Turkiye Is Bankasi AS (Is­bank).

The debt in­stru­ment is expected to be el­i­gi­ble for Tier 2 cap­i­tal treat­ment un­der Turk­ish law. The out­look is sta­ble. Is­bank's sub­or­di­nated debt rat­ing is po­si­tioned one notch be­low the bank's ad­justed stand­alone credit as­sess­ment, and does not in­cor­po­rate any rat­ing up­lift from sys­temic sup­port. Global rat­ing agency Moody's said at present, there is a strong pru­den­tial bank-su­per­vi­sory frame­work in Tur­key. The reg­u­la­tor has ex­ten­sive in­ter­ven­tion tools avail­able to pre­serve a bank's sol­vency and fi­nan­cial sta­bil­ity within the bank­ing sys­tem.

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