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Moody's could cut GarantiBank
Moody's Investors Service said it placed the following ratings of GarantiBank International NV on review for downgrade: Baa2 long-term deposit ratings; Prime-2 short-term deposit ratings; and standalone C- bank financial strength rating, which is equivalent to a baa2 baseline credit assessment.
Moody's said the action was principally triggered by the review for downgrade of the long-term ratings of Garanti-NV's parent, Turkiye Garanti Bank AS.
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