The outlook on both ratings is stable, Fitch said in a statement.
Fitch has also downgraded the support rating for the Romanian lender to ‘3’ from ‘2’. The viability rating of Garanti Romania of ‘b’ was not affected by this rating action.
“The ratings on Garanti Romania are underpinned by Fitch’s view that the bank is a strategically important subsidiary of Garanti Bankasi,” Fitch said.
“Fitch believes the parent has a strong propensity to support Garanti Romania, given their strong integration and the high reputational risk to Garanti Bankasi in allowing its subsidiary to default.”