Moody's: A3 rating of Denizbank's covered bonds unaffected by amendments to programme documentation

Madrid, November 06, 2013 -- Moody's Investors Service has today announced that the amendments to the transaction documents of Denizbank A.S. - SME backed Covered Bonds programme will not, in and of themselves and at this time, result in a downgrade or withdrawal of the current A3 rating assigned to the covered bonds. In Moody's opinion the proposed changes in the Security Supervision Agreement are of a technical nature and are necessary for the purposes of clarification of the duties of the Security Supervisor and as such have no credit impact in the transaction.

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