Fitch rates Turkey eurobond BB+

Fitch Ratings said it assigned a BB+ rating on the Republic of Turkey's $1 billion eurobond due Jan. 14, 2041.

The eurobond has a coupon rate of 6% and its rating is in line with Turkey's long-term foreign-currency issuer default rating.

The outlook is positive.

The ratings reflect Turkey's strong economic recovery, improving public finances and increasing confidence that a lasting transformation in the country's economic prospects and stability is underway, Fitch said.

The agency said there is some uncertainty about whether it can grow robustly without generating significant imbalances.

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