Bloomberg News

S&P Says Turkey FC Rating May Improve in Next 1 1/2 Years

September 21, 2011

Sept. 21 (Bloomberg) -- Turkey’s foreign currency credit rating may improve if the country’s economy proves resilient to a likely slowdown in growth over the next 1 1/2 years, Standard & Poors analyst Frank Gill said in an interview.

“If the economy is as resilient as we expect it to be in the next year and a half, then I think you would see an improvement in the foreign currency rating,” Gill said today in Istanbul.

The agency yesterday upgraded Turkey’s local currency rating by one level to BBB-, the lowest investment-grade ranking. Turkey’s foreign-currency ranking was affirmed at BB with a positive outlook, according to yesterday’s statement.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Steve Bryant at sbryant5@bloomberg.net


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