Capital Intelligence has affirmed the credit ratings of Burgan Bank - Turkey, with the agency confirming the issuer's long-term foreign currency solvency rating at (B+) .
The bank said in a statement to the Kuwait Stock Exchange, today, Sunday, that the agency confirmed the rating of the issuer's ability (Burgan Bank - Turkey) to meet its short-term foreign currency obligations at Category (B).
At the same time, Capital Intelligence confirmed Burgan Bank-Turkey's prospective rating of (b) and core financial strength rating of (+b), with Maintaining a stable outlook.
The stable outlook for the Bank's long-term foreign currency solvency rating and the Bank's standalone rating reflect the Agency's view that ratings at their current levels are commensurate with the risks faced by the Bank.< /p>
In early March, Fitch Ratings revised the outlook for 13 Turkish banks, including Burgan Bank (Turkey), as the agency revised its outlook. The future of the bank unit in Turkey from negative to stable, after changing the sovereign rating of Turkey at that time.
