Breaking\u2026.S&P downgrades Turkey\u2019s outlook.<\/p>\n
Just in from S&P:<\/p>\n
\u2018Standard & Poor\u2019s Ratings Services today revised the outlook on Turkey\u2019s long-term foreign and local currency sovereign credit ratings to stable, from positive. At the same time, we affirmed our \u2018BB\/B\u2019 foreign currency and \u2018BBB-\/A-3\u2032 local currency long- and short-term sovereign credit ratings on Turkey. We also affirmed the Turkey long- and short-term national scale ratings at \u2018trAA+\/trA-1\u2032. The \u20193\u2032 recovery rating and \u2018BBB\u2013\u2019 transfer and convertibility (T&C) assessment remain unchanged.<\/p>\n
Less-buoyant external demand and worsening terms of trade (the price of exports compared to imports) have, in our view, made economic rebalancing more difficult, and have increased the risks to Turkey\u2019s creditworthiness given its high external debt and the state budget\u2019s reliance on indirect tax revenues. We have revised the outlook on Turkey\u2019s long-term sovereign credit ratings to stable from positive, reflecting our view that the ratings are likely to remain at the current level during the next 12 months.\u2019<\/p>\n
Ah yes, that\u2019ll be those Erdaganomics again, then. You read it here first.<\/p>\n
via Breaking\u2026.S&P downgrades Turkey\u2019s outlook. | A diary of deception and distortion.<\/p>\n","protected":false},"excerpt":{"rendered":"
Breaking\u2026.S&P downgrades Turkey\u2019s outlook. Just in from S&P: \u2018Standard & Poor\u2019s Ratings Services today revised the outlook on Turkey\u2019s long-term foreign and local currency sovereign credit ratings to stable, from positive. At the same time, we affirmed our \u2018BB\/B\u2019 foreign currency and \u2018BBB-\/A-3\u2032 local currency long- and short-term sovereign credit ratings on Turkey. We also […]<\/p>\n","protected":false},"author":83,"featured_media":68792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[846],"tags":[7631,1844],"class_list":["post-53062","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-standard-poors","tag-turkish-economy"],"_links":{"self":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts\/53062","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/users\/83"}],"replies":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/comments?post=53062"}],"version-history":[{"count":0,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts\/53062\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/media\/68792"}],"wp:attachment":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/media?parent=53062"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/categories?post=53062"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/tags?post=53062"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}