Bloomberg News

S&P Says Less Than 1 in 3 Chance of Turkey Upgrade Over Year

May 02, 2012

Standard & Poor’s’ reduction of the outlook on Turkey’s sovereign rating to stable indicates that there’s “a less than one out of three likelihood of an upgrade” over the next 12 months, the company said in an e- mailed statement today.

S&P cut its outlook for Turkey’s long-term foreign and local currency credit ratings to stable from positive yesterday, citing concern about external demand and terms of trade.

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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