(EMAILWIRE.COM, January 16, 2024 ) ISTANBUL (ARAB NEWSWIRE) — The international credit rating agency Moody’s, while con-firming Türkiye’s credit rating, revised its outlook upwards in line with market expectations.
Erkan Kork, Chairman of the Board of Directors of BankPozitif, commenting on Moodys re-port, stated that the decision was not a surprising development, saying, Increasing foreign exchange reserves, declining current account and foreign trade deficits, record-breaking ex-ports, the effects of strong growth, and the CDS premium remaining below 300 are attracting the attention of international institutions. Türkiye had already received positive responses from other rating agencies like Fitch Ratings and S&P. It’s not surprising that Moodys has turned Türkiye’s credit rating outlook to positive. It was an assessment in line with our expectations, even overdue.
“Moodys decision will act as a stimulant in the markets”
Pointing out that the decision will act as a stimulant in domestic markets, Erkan Kork said, Until now, credit rating institutions, which have been quite stingy about Türkiye and sometimes made decisions far from objectivity, could not ignore the positive picture. I think international direct investments, especially from the USA and European countries, will accelerate in our country. Global markets are getting out of the holiday lethargy and returning to routine. We are entering a period where foreign investor entries into Turkish Lira assets will accelerate, and new success stories will be written.
“We stand by the economic management”
Emphasizing that the investor meetings conducted by the economic management are bearing fruit, Kork noted: As BankPozitif, we stand by our President Recep Tayyip Erdoğan and the economic management. We will continue to work with all our strength for the success of the policies implemented. The second century of our Republic will be remembered as the investment century. As BankPozitif, in this period when we will celebrate our 25th anniversary, we will continue to contribute to the Turkish economy and provide strong support to the real sector.
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Reference
Moodys changes outlook on Turkiye to positive affirms B3 ratings Rating Action PR 483473.
https://www.moodys.com/research/Moodys-changes-outlook-on-Turkiye-to-positive-affirms-B3-ratings-Rating-Action–PR_483473
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