Published On: Sat, Nov 4th, 2017

Standard & Poor’s announces its decision about Turkey’s credit rating

Standard  Poor's credit rating Turkey

International credit rating agency Standard & Poor‘s affirmed Turkey’s foreign currency credit rating as “BB” and domestic currency rating as “BB +” while it announced the country’s note outlook as “negative”. S & P which had made its final assessment of Turkey on May 5th 2017 and confirmed the foreign currency credit rating of “BB”, the domestic currency rating of “BB +” and the rating of the note as “negative”, thus did not make any changes to its decision in May.

General expectations in the markets was that the institution would not make any changes in the note or appearance which in fact turned out to be true.

As for “US Dollar and Turkish Lira rates”, after US President Donald Trump nominated Jerome Powell for the Fed Presidency yesterday, US dollar had loosened below 3.80 TL.

However the currency had crossed the critical threshold on the new day, continuing its upward movement following the announcement of inflation data. The exchange rate, which saw 3.89 at night, was moving around 3.88, at the same time the S & P decision was announced.

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