Business

Moody’s updated Turkiye’s credit rating outlook from “negative” to stable

International credit rating agency Moody’s changed Turkiye’s credit rating outlook from “negative” to “stable”.

Moody’s made an off-schedule assessment of the Turkish economy.

In a statement made by the credit rating agency, it was reported that Turkiye’s credit rating was downgraded from “B2” to “B3”, and the credit rating outlook was changed from “negative” to “stable”.

In the statement, it was stated that Turkiye’s external position is under more pressure than expected, especially as a result of rising energy prices.

In the statement, which stated that the global environment has become more challenging, it was noted that the country’s economy is expected to grow by 4.5% this year and 2% next year.

Moody’s predicted that the Turkish economy would grow by 3.5% this year and 4% next year, in the forecasts it published in May.

Moody’s, which was previously stated as 27 May for Turkiye in its calendar, did not update the country’s credit rating on this date.

Source: Trthaber / Translated by Irem Yildiz

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button