S&P affirms Turkey

Standard & Poor's said it affirmed its BB- long-term foreign currency and BB long-term local currency sovereign credit ratings on the Republic of Turkey.

At the same time, the B short-term foreign and local currency ratings on Turkey were affirmed. The outlook is stable.

S&P said the ratings on Turkey are supported by the government's continued commitment to prudent macroeconomic policies. In the past two years, Turkey has met challenging fiscal and inflation targets.

The ratings are also supported by significant declines in real interest rates and the consequent rise in real investment, according to S&P.

The ratings are constrained by Turkey's continued vulnerability to financing shocks, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.