Moody’s Upgrades Turkey’s Rating to “Ba2.”

Moody’s Investor Service has upgraded Turkey’s government bond rating one notch to Ba2. The upgrade, Moody’s cited, is the result of growing confidence in the Turkish Government’s “financial shock-absorption capacity.” According to Moody’s analyst, Sarah Carlson, “[t]he ability of the government and the country more generally to regroup when faced with a very significant economic and financial challenge indicates that Turkey has reached a higher level of resiliency – which is what our ratings ultimately reflect.”

Analysts find the two-point upgrade by Fitch last month and the one January 7 by Moody’s to be wholly merited in light of Turkey’s substantial improvement in its macro fundamentals; they expect Standard and Poor’s to follow. 

Source: Hurriyet Daily News

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