'No obstacle' to upgrade Turkey's credit rating more: OECD official

The head of the OECD's bond market unit called for second 'investment grade status' for Turkey after the Fitch upgrade last November.

'No obstacle' to upgrade Turkey's credit rating more: OECD official

World Bulletin/News Desk

A senior official from the OECD has joined in to voice support for Turkey's quest to win investment grade country status from a second international rating agency.

The Fitch Ratings was the first last November to raise Turkey to investment grade, and expectations are high that a second rating agency such as Moody's or the S&P will give the country a similar boost.

"I cannot see any reason that would block more rating upgrades in a country like as Turkey with such policy position and economic stability," said Hans Blommestein, head of the Bond Market and Public Debt Management Unit at the OECD.

The Fitch upgrade of the country's long-term foreign debt to BBB- from BB+ was long expected after years of sub-investment assessments and it arrived a bit late, Blommestein said.

"Sometimes I find it quite difficult to understand the logic of rating agencies. I am a staunch supporter of more upgrades in Turkey's ratings," he said. 

Last Mod: 08 Mayıs 2013, 15:34
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