Business world expects credit rating upgrade from Moody’s.

Markets are focusing on the credit rating decision that the international credit rating agency Moody’s will announce on Friday, while important representatives of the business world are expecting a strong credit rating upgrade from the institution.

Moody’s, which revised Turkey’s outlook upwards in January, is expected to announce its evaluation on the evening of Friday, July 19. The credit rating decision is important in a period of increasing foreign interest. Commenting on the matter, Dr. Erkan Kork, Chairman of the Board of BankPozitif Credit and Development Bank, expressed that the economic program implemented has been accepted in foreign financial circles, stating, ‘Our country has a strong reputation in international markets. I believe that our rating will be upgraded by two notches. Even if there is only a one-notch increase, I think Moody’s may make a surprise out-of-schedule evaluation towards the end of the year and make a new increase in our country’s rating. The strong improvements Turkey has made in CDS and other risk indicators, exiting the gray list, and the good performance of the budget have contributed to the formation of a more predictable policy framework. Credit rating agencies will not be able to ignore this picture.’

‘Turkey is a country where investment opportunities need to be considered’
Dr. Erkan Kork emphasized that with the beginning of the disinflation process, the positive atmosphere in the economy is further strengthened, saying, ‘Our country’s economy, political stability, and the atmosphere of trust are not to be feared but to be considered for investment opportunities. International direct investments have started to come to our country. I believe that with the determined steps of our President Recep Tayyip Erdoğan, our Minister of Treasury and Finance Mehmet Şimşek, and the economic management, the positive signals from foreigners will increase. With the rating upgrade, long-term investment inflows to Turkey will accelerate further.’

While Fitch Ratings and S&P have raised Turkey’s rating in their reports this year, Moody’s upgraded Turkey’s credit rating outlook from ‘stable’ to ‘positive’ in January.