Moody's upgrades Turkey

Moody's Investors Service said it upgraded Turkey's government bond ratings by one notch to Baa3 from Ba1 and assigned a stable outlook.

Moody's said the key drivers for the action are recent and expected future improvements in key economic and public finance metrics; and progress on structural and institutional reforms that Moody's expects will reduce existing vulnerabilities to shocks to international capital flows over time.

The agency said its decision to assign a stable outlook on Turkey's ratings reflects the expectation of continued prudence in the management of public finances and sustained momentum behind current structural and institutional reforms.

© 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.