Moody's: Positive view on Turkey bonds

Moody's Investors Service said it changed the outlook on the government of Turkey's Ba3 bond ratings to positive from stable.

The outlook change reflects the economy's improved resilience in the face of shocks, as illustrated by its unassisted performance during the global crisis of the past two years, the agency said.

The positive outlook also acknowledges that the Turkish economy was better prepared to face the credit crunch and the resulting global recession than would have seemed possible given its dependence on external capital, Moody's said.

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