Make your BRIEF Comment on the” SOVEREIGN CREDIT RATING GRADES” assigned for TURKEY, recently, by Moodys,...

Make your BRIEF Comment on the” SOVEREIGN CREDIT RATING GRADES” assigned for TURKEY, recently, by Moodys, Standard and Poors, Fithc and Japanese Credit Rating Agencies.

Expert Solution

Different credit rating set by credit rating agencies for Turkey.

S&P------------------------B+

Moody's------------------B1

Fitch-----------------------BB-

Standard & Poor's credit rating for Turkey stands at B+ with stable outlook. Moody's credit rating for Turkey at B1 with Negative outlook.

Fitch's credit rating for Turkey was reported at BB- with stable outlook.

A credit rating is used by sovereign wealth funds, pension-funds and other investors to gauge the credit worthiness of Turkey, thus having a big impact on the country's borrowing costs.

Moody cut Turkey's sovereign rating citing a continued weakening of its economic and political institutions and increased risk from its wide current account deficit.

Fitch Ratings has affirmed Turkey's long term foreign currency issuer default rating at BB- with a stable outlook. It reflects weak external finances, a track record of economic volatility, high inflation and political and geopolitical risks.

jeff jeffy answered 1 year ago

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