S&P: Syria conflict increases ratings risks for neighbours, including Turkey.

By bne IntelliNews September 20, 2012
Standard & Poors (S&P) warned on Wednesday that the conflict in Syria could potentially increase the credit rating risks of neighbouring sovereigns. The conflict is leading to geopolitical tensions, refugee flows, trade restrictions, and possible spillover effects that could pose difficulties for Syrias neighbours, including Turkey, S&P said. Turkeys size and resources inoculate the sovereign rating (foreign currency BB/Stable B) from the direct fiscal, political, or security risks emanating from Syria, nonetheless in the improbable scenario of rapidly escalating security problems, there are tail risks that could have a material impact on its sovereign ratings, S&P said. The rating agencys base-case scenario is that the Syrian conflict will remain a civil war predominantly contained within its borders.

S&P: Syria conflict increases ratings risks for neighbours, including Turkey.

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