{"id":53230,"date":"2012-05-05T13:05:00","date_gmt":"2012-05-05T10:05:00","guid":{"rendered":"http:\/\/www.turkishnews.com\/en\/content\/?p=53230"},"modified":"2016-12-28T16:05:03","modified_gmt":"2016-12-28T13:05:03","slug":"rbs-agrees-turkeys-ratings-are-wrong","status":"publish","type":"post","link":"https:\/\/www.turkishnews.com\/en\/content\/2012\/05\/05\/rbs-agrees-turkeys-ratings-are-wrong\/","title":{"rendered":"RBS agrees Turkey\u2019s ratings \u2018are wrong\u2019"},"content":{"rendered":"<p>ISTANBUL \u2014 Rating companies are consistently wrong on Turkey and have &#8220;misrated&#8221; the country by about three levels, Royal Bank of Scotland said on Thursday.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-53233\" title=\"client_logo_rbs\" src=\"https:\/\/www.turkishnews.com\/en\/content\/wp-content\/uploads\/2012\/05\/client_logo_rbs.gif\" alt=\"\" width=\"96\" height=\"96\" \/>&#8220;It is two to three notches mis-rated by any fair assessment,&#8221; RBS chief emerging markets economist Tim Ash said after Turkish Prime Minister Recep Tayyip Erdogan had lashed out at Standard &amp; Poor\u2019s (S&amp;P) on Thursday for cutting Turkey\u2019s outlook earlier this week. &#8220;It should be investment grade already.&#8221;<\/p>\n<p>S&amp;P on Tuesday cut the outlook on Turkey\u2019s rating to stable from positive, reducing prospects for an upgrade over the next 12 months. The company rates Turkey BB, the second-highest non-investment grade ranking. Fitch Ratings, which has Turkey at BB+, one step below investment grade, cut its outlook to stable from positive in November, citing its current-account deficit.<\/p>\n<p>Mr Erdogan called S&amp;P\u2019s revision of Turkey\u2019s outlook &#8220;strange&#8221; and &#8220;ideological&#8221; in a speech in Istanbul. &#8220;If necessary, we\u2019ll make them pay with a statement that we don\u2019t recognise S&amp;P,&#8221; he said, without explaining what that entailed.<\/p>\n<p>BLOOMBERG<\/p>\n<p>via BusinessDay &#8211; RBS agrees Turkey\u2019s ratings \u2018are wrong\u2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISTANBUL \u2014 Rating companies are consistently wrong on Turkey and have &#8220;misrated&#8221; the country by about three levels, Royal Bank of Scotland said on Thursday. &#8220;It is two to three notches mis-rated by any fair assessment,&#8221; RBS chief emerging markets economist Tim Ash said after Turkish Prime Minister Recep Tayyip Erdogan had lashed out at [&hellip;]<\/p>\n","protected":false},"author":83,"featured_media":53233,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[846],"tags":[8138,7631],"class_list":["post-53230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-rbs","tag-standard-poors"],"_links":{"self":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts\/53230","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=53230"}],"version-history":[{"count":0,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts\/53230\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/media\/53233"}],"wp:attachment":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/media?parent=53230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/categories?post=53230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/tags?post=53230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}