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Following the downgrade of Turkey's Long Term Foreign and Local Currency Issuer Default Ratings IDR to B from B+, and the country ceiling to B from B+ on 08 July 2022, International Rating Agency Fitch Ratings has also revised the ratings of Turkish banks on 26 July 2022. In this context, Fitch Ratings has revised DenizBank's long-term local currency IDR to B from B+, long term foreign currency IDR to B- from B with their Negative Outlooks. Fitch has also revised our shareholder support rating to b- from b and our viability rating to b- from b+ and affirmed our short-term local and foreign currency IDRs at B.