S&P sees Turkeys upgrade unlikely in near future.

By bne IntelliNews May 17, 2012
Paul Coughlin, executive managing director of global analytics and operations at Standard & Poors, said any upgrading of Turkeys ratings would not be possible in the next 12 to 18 months due to macroeconomic imbalances and developments in the global economy. Coughlin defended S&Ps recent decision to revised Turkeys long-term foreign and local currency sovereign credit ratings to stable from positive. PM Erdogan sharply criticised S&P and its decision, calling the rating revision nonsense and ideological.

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