Bluebay Asset Management Emerging Markets Senior Strategist Timothy Ash, headquartered in London, noted that Fitch Ratings’ upgrade of Turkiye’s credit rating was “deserved” in terms of the policy adjustment seen since the elections.
Bluebay Asset Management Emerging Markets Senior Strategist Timothy Ash evaluated the international credit rating agency Fitch’s upgrade of Turkiye’s credit rating.
Stating that the rating increase was “deserved” in terms of the policy adjustment seen since the elections, Ash said that the “timing is interesting” considering that markets around Turkiye have been tense in the last few weeks due to inflation data and pressure on the lira and reserves.
Fitch Ratings today raised Turkiye’s credit rating from “B” to “B+” and changed its rating outlook from “stable” to “positive”.
In the rating agency’s statement, it was stated that the upgrade in the rating reflects increased confidence in the durability and effectiveness of the policies implemented since June 2023, and the change in its outlook to positive indicates a consistent macro policy stance and a significant decline in Turkiye’s inflation.
Source: Trthaber / Prepared by Irem Yildiz