Türkiye stands out as the only country to receive a two-notch credit rating upgrade this year from all three major rating agencies, according to the Turkish Treasury and Finance Minister.
The minister shared on X that the US-based S&P raised Türkiye’s rating from B+ to BB-, attributing the upgrade to economic rebalancing, a narrowing current account deficit, stable Turkish lira, growing reserves, and ongoing disinflation.
These economic improvements, driven by Türkiye’s economic reforms, have lowered risk premiums and reduced external borrowing costs.
He noted that positive market indicators suggest further improvements ahead.
Earlier, in September, Fitch Ratings upgraded Türkiye’s rating to BB- with a stable outlook, while in July, Moody’s raised the country’s long-term issuer ratings from B3 to B1.
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