Standard & Poors keeps Turkey's credit rating at BB+

Turkey's economic outlook also remains to be "negative"

Standard & Poors keeps Turkey's credit rating at BB+

World Bulletin / News Desk

U.S.-based credit rating agency Standard & Poors kept Turkey's credit rating status and economic outlook at the same level on Friday.

A statement on the agency's website said the rating would stay at BB+ and the outlook continues to be "negative."

"The country's policy environment has become "less predictable," which would jeopardize its resilience to external shocks and hurt long-term growth," the statement said.

Standard & Poor said there is potential for harsh decline at Turkish economy, although it envisages economic growth of 2.6 percent in 2014 and 2015.

The agency also noted that Turkey's current account deficit, a measure of its foreign transactions, remains high. 

Last Mod: 23 Mayıs 2014, 10:58
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