Standard&Poor's
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S&P Raises Turkey's Credit Rating. 🇹🇷⚡
In a significant move, Standard & Poor's (S&P) has upgraded Turkey's credit rating from "B" to "B+", marking a notable milestone in the country's economic journey. This upgrade is not merely a numerical adjustment but a testament to Turkey's resilience in overcoming economic challenges and implementing robust fiscal and monetary policies.
Timothy Ash, Senior Strategist at Bluebay Asset Management, hailed Turkey's progress, highlighting the nation's ability to navigate through turbulent economic waters. Analysts anticipate further upgrades from other credit rating agencies, with Moody's potentially considering a one-notch raise, given the positive trajectory.
The importance of sustainable economic policies cannot be overstated, as emphasized by Prof. Dr. Erhan Aslanoğlu from Istanbul Topkapı University. He underscores the need for consensus on income policies and price adjustments to address inflationary pressures effectively.
S&P's assessment underscores the importance of consistent and well-executed economic strategies for future upgrades. Moody's shift from a "stable" to a "positive" outlook in January and Fitch Ratings' recent upgrade further solidify Turkey's economic prospects.
The upgrade in Turkey's credit rating is more than just a symbolic gesture; it reflects the collective efforts of policymakers and economic stakeholders in steering the country towards a path of sustainable growth and stability. As Turkey continues to implement prudent economic policies, investors and analysts alike are optimistic about the nation's economic trajectory in the years to come.
#S&P #Turkey #türkiye #economy #Standard&Poor's
In a significant move, Standard & Poor's (S&P) has upgraded Turkey's credit rating from "B" to "B+", marking a notable milestone in the country's economic journey. This upgrade is not merely a numerical adjustment but a testament to Turkey's resilience in overcoming economic challenges and implementing robust fiscal and monetary policies.
Timothy Ash, Senior Strategist at Bluebay Asset Management, hailed Turkey's progress, highlighting the nation's ability to navigate through turbulent economic waters. Analysts anticipate further upgrades from other credit rating agencies, with Moody's potentially considering a one-notch raise, given the positive trajectory.
The importance of sustainable economic policies cannot be overstated, as emphasized by Prof. Dr. Erhan Aslanoğlu from Istanbul Topkapı University. He underscores the need for consensus on income policies and price adjustments to address inflationary pressures effectively.
S&P's assessment underscores the importance of consistent and well-executed economic strategies for future upgrades. Moody's shift from a "stable" to a "positive" outlook in January and Fitch Ratings' recent upgrade further solidify Turkey's economic prospects.
The upgrade in Turkey's credit rating is more than just a symbolic gesture; it reflects the collective efforts of policymakers and economic stakeholders in steering the country towards a path of sustainable growth and stability. As Turkey continues to implement prudent economic policies, investors and analysts alike are optimistic about the nation's economic trajectory in the years to come.
#S&P #Turkey #türkiye #economy #Standard&Poor's
Turkey's Credit Rating Outlook Gets a Boost: Minister Şimşek's Response. 🇹🇷💰
In a recent development, Standard & Poor's (S&P) raised Turkey's credit rating outlook from "stable" to "positive." Minister of Treasury and Finance Mehmet Şimşek expressed confidence in the government's Medium Term Program, stating that the implemented measures are yielding positive responses.
S&P confirmed Turkey's credit rating as "B" and highlighted policy adjustments in response to recent economic challenges. The Central Bank of the Republic of Turkey (CBRT) was noted for rebuilding its foreign exchange reserves, while interest rate hikes since June contributed to a reduction in twin deficits.
The statement also projected a lower-than-targeted 2023 budget deficit and a narrowing current account deficit due to a substantial decrease in imports. Additionally, if the balance of payments improves, foreign exchange reserves increase, and dollarization decreases in the next year, there is potential for a one-level credit score upgrade.
Minister Şimşek, in a social media statement, emphasized that the government would persist in implementing the Medium Term Program with patience and determination. The goals include achieving price stability, a permanent decrease in the current account deficit, fiscal discipline, and reserve accumulation to propel the country toward sustainable high growth.
As Turkey navigates economic challenges, this positive outlook from S&P reflects ongoing efforts to address issues and instill confidence in the nation's economic trajectory.
#Standard&Poor's #S&P #Turkey #CBRT
In a recent development, Standard & Poor's (S&P) raised Turkey's credit rating outlook from "stable" to "positive." Minister of Treasury and Finance Mehmet Şimşek expressed confidence in the government's Medium Term Program, stating that the implemented measures are yielding positive responses.
S&P confirmed Turkey's credit rating as "B" and highlighted policy adjustments in response to recent economic challenges. The Central Bank of the Republic of Turkey (CBRT) was noted for rebuilding its foreign exchange reserves, while interest rate hikes since June contributed to a reduction in twin deficits.
The statement also projected a lower-than-targeted 2023 budget deficit and a narrowing current account deficit due to a substantial decrease in imports. Additionally, if the balance of payments improves, foreign exchange reserves increase, and dollarization decreases in the next year, there is potential for a one-level credit score upgrade.
Minister Şimşek, in a social media statement, emphasized that the government would persist in implementing the Medium Term Program with patience and determination. The goals include achieving price stability, a permanent decrease in the current account deficit, fiscal discipline, and reserve accumulation to propel the country toward sustainable high growth.
As Turkey navigates economic challenges, this positive outlook from S&P reflects ongoing efforts to address issues and instill confidence in the nation's economic trajectory.
#Standard&Poor's #S&P #Turkey #CBRT
🔴 BREAKING NEWS | 🇹🇷
International credit rating agency S&P revised Turkey's credit rating outlook from stable to positive.
#Turkey #TurkeyCrypto #Turkish #türkiye #Standard&Poor's
International credit rating agency S&P revised Turkey's credit rating outlook from stable to positive.
#Turkey #TurkeyCrypto #Turkish #türkiye #Standard&Poor's
S&P Global Affirms China's Credit Rating Amidst Moody's Negative Outlook. 🇨🇳📌
In a recent statement, S&P Global Ratings addressed the stability of China's credit rating and outlook following Moody's decision to downgrade the country's credit rating outlook to "negative."
- Contrary to Moody's recent move, S&P Global has maintained the status quo for China's credit rating.
- S&P confirmed its A+ long-term rating for China in June with a stable outlook, and there have been no changes since then.
- The current assessment by S&P Global reflects a 'stable' outlook for the creditworthiness of the Chinese government.
It's worth noting that the global financial landscape remains dynamic, and credit rating agencies play a crucial role in assessing and communicating the economic health of nations. Investors and policymakers often closely monitor such developments to make informed decisions in the financial markets.
#China #S&P #Standard&Poor's #Moody's
In a recent statement, S&P Global Ratings addressed the stability of China's credit rating and outlook following Moody's decision to downgrade the country's credit rating outlook to "negative."
- Contrary to Moody's recent move, S&P Global has maintained the status quo for China's credit rating.
- S&P confirmed its A+ long-term rating for China in June with a stable outlook, and there have been no changes since then.
- The current assessment by S&P Global reflects a 'stable' outlook for the creditworthiness of the Chinese government.
It's worth noting that the global financial landscape remains dynamic, and credit rating agencies play a crucial role in assessing and communicating the economic health of nations. Investors and policymakers often closely monitor such developments to make informed decisions in the financial markets.
#China #S&P #Standard&Poor's #Moody's
Moody's and Fitch Assessments on Turkey's Economy. 🇹🇷⚠️
In recent updates from credit rating agencies Moody's and Fitch, positive sentiments are expressed regarding Turkey's economic situation. Here's a summary of their key points:
🔝 Fitch's Perspective:
Fitch Ratings' Country Ratings Director, Paul Gamble, finds the normalization steps in Turkey reassuring for foreign investors.
Despite positive trends, Gamble emphasizes the need for time and acknowledges significant challenges.
The policy changes post-election are seen to reduce short-term macro-financial stability risks and payment balance pressures.
However, he highlights the importance of continued confidence in the sustainability of these policy adjustments.
🆙 Moody's Analysis:
Moody's acknowledges the potential for a positive outlook if the tight monetary stance is maintained, and wage agreements align with the Central Bank's inflation reduction goal.
Positive indicators include a decrease in the current account deficit and an increase in foreign exchange reserves, especially if tied to improved external competitiveness and sustained capital inflows.
Moody's suggests a return to orthodox monetary policy is a positive move and notes the substantial tightening by the Central Bank.
Concerns are raised about imminent inflationary pressures, especially with potential excessive wage increases, and the importance of broader economic stability.
⏩ General Observations:
Moody's has not issued a specific rating update but maintains Turkey's credit rating at B3 with a stable outlook.
Standard & Poor's (S&P) recently shifted its credit rating outlook for Turkey from stable to positive, citing evidence of the country's economic rebalancing.
📝 Factors for Positive Outlook:
- Improvement in payment balance results.
- Increase in domestic savings.
- Strengthening of the Turkish Lira.
- Rise in available foreign exchange reserves.
#Moody's #Standard&Poor's #Fitch #S&P #Turkey
In recent updates from credit rating agencies Moody's and Fitch, positive sentiments are expressed regarding Turkey's economic situation. Here's a summary of their key points:
🔝 Fitch's Perspective:
Fitch Ratings' Country Ratings Director, Paul Gamble, finds the normalization steps in Turkey reassuring for foreign investors.
Despite positive trends, Gamble emphasizes the need for time and acknowledges significant challenges.
The policy changes post-election are seen to reduce short-term macro-financial stability risks and payment balance pressures.
However, he highlights the importance of continued confidence in the sustainability of these policy adjustments.
🆙 Moody's Analysis:
Moody's acknowledges the potential for a positive outlook if the tight monetary stance is maintained, and wage agreements align with the Central Bank's inflation reduction goal.
Positive indicators include a decrease in the current account deficit and an increase in foreign exchange reserves, especially if tied to improved external competitiveness and sustained capital inflows.
Moody's suggests a return to orthodox monetary policy is a positive move and notes the substantial tightening by the Central Bank.
Concerns are raised about imminent inflationary pressures, especially with potential excessive wage increases, and the importance of broader economic stability.
⏩ General Observations:
Moody's has not issued a specific rating update but maintains Turkey's credit rating at B3 with a stable outlook.
Standard & Poor's (S&P) recently shifted its credit rating outlook for Turkey from stable to positive, citing evidence of the country's economic rebalancing.
📝 Factors for Positive Outlook:
- Improvement in payment balance results.
- Increase in domestic savings.
- Strengthening of the Turkish Lira.
- Rise in available foreign exchange reserves.
#Moody's #Standard&Poor's #Fitch #S&P #Turkey