Fitch to review Turkeys ratings soon.

By bne IntelliNews October 11, 2012
Fitch is very close to reviewing Turkeys credit rating, Paul Rawkins, senior director at Fitch, said yesterday. Fitch must review ratings each year due to regulatory issues and the rating agency is quite close to that, Rawkins explained. The rating agency will be looking at whether Turkey has successfully managed to steer its economy towards a soft landing and there is evidence that it has but it is still a volatile economy, Rawkins said. Fitch currently rates Turkey at BB+ with a stable outlook. In August, Fitch said that further progress in navigating a path back to sustainable growth, with inflation falling toward its target and the CA deficit narrowing to a more sustainable level could lead Fitch to upgrade Turkeys rating to BBB- from BB+.

Fitch to review Turkeys ratings soon.

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