Moody's says Isbank outlook stable
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.