Turkey's rating may rise

"Turkey's short-run risks were very low, this can play a positive role in raising its rating" says Eurasia Administrative Council Director of JCR Okmen

Turkey's rating may rise

World Bulletin/News Desk

"Turkey's short-run risks were very low, this can play a positive role in raising its rating" said Orhan Okmen, Eurasia Administrative Council Director of Japan Credit Rating Agency (JCR).      

Speaking at AA Finance Editor's Desk, Okmen said "I believe that the United States, Europe and Japan's loose monetary policy implementation would take long" said Okmen, adding that Turkey's short-run risks being very low could play a positive role in raising its rating.          

In addition, "Turkey could raise its growth to 5 percent, had it not been shadowed by the global capital" said Okmen, pointing at the macro-protective relieves applied by the Central Bank of Turkey.          

Okmen stated that between 2004 and 2007 the credits given by rating institutions had not been accurate.      

He added that rating institutions had given an approximate number of 3.2 trillion dolar rating based on unstructured finance.      

"It probably caused a market loss for us because it was not right to give rating to a structure that we do not know the warrants behind" said Okmen, emphasizing that JCR had not been involved in that process.  

Last Mod: 03 Mayıs 2013, 15:04
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