First, the S & P, Moody’s after: Turkey’s credit rating lowered.
Credit rating agencies S & P and Moody’s, Turkey’s credit they went on sale the notes repeatedly. While S & P left the credit outlook at ‘stable’, Moody’s picked up the ‘negative’.
International credit rating agency Standard and Poor’s credit rating today announced the decision about Turkey. It is Turkey’s note of Turkey’s foreign currency credit rating to BB from B + or lowered. It confirmed the view as “stationary”.
S & P said in a statement, it said Turkey’s economy is expected contraction in 2019.
The statement, “Stable outlook for the next 12 months, Turkey’s credit rating reflects the balance of risks. Setting sharp volatility in the balance of payments and the Turkish Lira will undermine Turkey’s economy.” The statement said.
The statement also states that “the new economic model of the Turkish government is lacking in specific economic proposals.” expressions took place.
Organization in May Turkey’s foreign currency credit rating to “BB” from “BB-” to shrunken, while the notes from the domestic currency “BB +” from “BB” had dropped.
Unexpected note from Moody’s
An unexpected discount after the S & P’s decision came from Moody’s.
A statement from the agency, Turkey’s long-term credit rating to “Ba2” from “Ba3” e is lowered, the outlook “negative” translated as specified.
In the explanations, it is noted that if the Turkish authorities provide a harmonious and effective economic plan in the near term, the credit rating will be balanced.
It was also highlighted that significant external financing support would be a supportive factor for the credit rating, as it was expressed that the credit rating would be favorably affected in the event of a decline in inflation and a decrease in the current account deficit.
There is no significant change in the course
After the announcement of the dollar / TL note decisions, it did not show any significant reaction. The Dollar / TL was narrowed to 6.02 from 6.04 before the decision. In the absence of an increase, the significant price pricing of the S & P’s anticipation of going for note discounts was effective today.