Moody’s Upgrades Turkey’s Credit Rating by Two Notches After 11 Years
International credit rating agency Moody’s has upgraded Turkey’s credit rating by two notches after 11 years, while maintaining a positive outlook.
The key reasons behind this upgrade include the success of the economic program implemented by the Turkish government. Specifically, the economic stabilization, reduced need for external financing, increased international reserves, and the disinflation process have been favorably evaluated by Moody’s, contributing to the improvement in Turkey’s credit rating.
Finance Minister Mehmet Şimşek stated that maintaining a positive outlook reflects the confidence in their programs and indicates potential future upgrades. Şimşek added, “We will continue to implement rule-based and predictable policies that enhance our economy’s resilience with determination.”
Source: Moody’s assessment report and the Ministry of Finance.
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