Positive Expectations Amid Potential Upgrade from “B3” to “B2”
The anticipation builds as international credit rating agency Moody’s prepares to reveal its latest decision on Turkiye’s credit rating. Following Turkiye’s removal from the grey list, there are positive expectations regarding an upgrade. When will Moody’s announce Turkiye’s credit decision, and what are the market’s expectations?
The wait for Moody’s decision on Turkiye’s credit rating is almost over. The international rating agency is set to release its final assessment for Turkiye as part of its 2024 schedule. The announcement is expected to be made at midnight, providing clarity on Turkiye’s credit status.
In January, Moody’s affirmed Turkiye’s credit rating at “B3” but upgraded the outlook from “stable” to “positive”. The agency indicated that Turkiye’s credit rating could be raised if there is evidence of sustained monetary policy post-local elections, economic growth slowdown, reduced inflation, and improved macroeconomic stability.
Credit Rating Expectations
Market participants are confident that Moody’s will upgrade Turkiye’s credit rating. The predominant expectation is a one-notch upgrade from “B3” to “B2”. The positive outlook is also anticipated to be maintained.
Source: AA / Prepared by Irem Yildiz