The first thing you need to do is choose a news reader, if you already don't have one. This is a piece of software that checks feeds you have requested and lets you read any new articles that have been added. There are various types of news reader. You should choose one that will work with your computer’s operating system.
When you have chosen a news reader, you can decide what content you want to keep up to date with. Please choose from below:
|Albania||Bosnia and Herzegovina||Bulgaria||Croatia|
|INTERVIEWS BY BALKANS.COM|
Alternatively, you can paste one of the BBN RSS URLs into a new feed in your news reader.
|E-mail article||Save||Additional News in English||Još vesti na Srpskom||Επιπλέον ειδήσεις στα Ελληνικά||Text|
Moody's Investors Service has today affirmed the Ba2/Not Prime global local-currency (GLC) and foreign-currency deposits ratings of Burgan Bank AS (Burgan-AS) based in Turkey. Concurrently, Moody's downgraded the standalone bank financial strength rating (BFSR) to E+ (from D-) which is now equivalent to a baseline credit assessment (BCA) of b2 (formerly ba3). The outlook on all assigned ratings is stable.
The affirmation of the Ba2 long-term deposit ratings reflects Moody's assumption of very high probability of parental support for Burgan-AS from Burgan Bank SAK (Burgan-SAK: deposits A3 stable, BFSR D+/BCA ba1 stable), based in Kuwait. However, the lowering of the BCA reflects the continuing challenges for Burgan-AS's earnings and franchise evolution. The rating agency believes that the small and evolving nature of Burgan-AS's franchise -- with low revenue diversification and high concentration to the corporate/SME segments -- constrain its ability to effectively develop its commercial leverage and smoothly manoeuvre its franchises to readily meet the needs of the domestic economy in Turkey's competitive banking environment against the background of moderate economic growth.
The affirmation of Burgan-AS's Ba2/Not Prime GLC deposit ratings reflects Moody's assumption of a very high probability of parental support from the 99.26% majority shareholder, Burgan-SAK. Moody's shareholder support assumption results in three notches of rating uplift from Burgan-AS's BCA. According to Moody's methodology, the BCA of a cross-border shareholder is used when incorporating parental support into the subsidiary's rating. The rating agency's very high shareholder support assumption reflects Burgan-AS's very close franchise association (in terms of branding, funding, senior management and strategic fit) that Burgan-AS provides to the Burgan Group. Moody's
Related News in English
Povezane vesti na srpskom
Συναφείς Ειδήσεις στα Ελληνικά