U.S. Markets closed

GarantiBank International N.V. -- Moody's downgrades GarantiBank International's deposit rating to Ba1 from Baa3

Moody's Investors Service ("Moody's") today downgraded the long-term and short-term deposit ratings of GarantiBank International N.V. (Now Garanti BBVA International, or GBI) to Ba1 from Baa3 and to Not Prime from Prime-3, respectively. The rating agency also downgraded the bank's standalone Baseline Credit Assessment (BCA) to ba2 from ba1 and its Adjusted BCA to ba1 from baa3. Moody's downgraded GBI's long-term and short-term Counterparty Risk Ratings (CRRs) to Baa3 from Baa2 and Prime-3 from Prime-2, respectively.