Remarkable Turkey statement from S&P! Announced by saying it depends on two factors
S&P Global Ratings Senior Director Frank Gill stated that a rating increase is possible in November when Turkey has a positive outlook for Turkey, “The improvement in net reserves and the rapid narrowing of the current account deficit are very important. The decision to raise the rating depends largely on these two factors.”
Turkey was the only country to receive a rating upgrade from the three major credit rating agencies Fitch Ratings, Moody’s and S&P Global Ratings this year, while S&P Global Ratings signaled a new rating increase in November.
New rating hike possible in November
Following the change in Turkey’s economic policies, Fitch raised Turkey’s rating to “BB-”, Moody’s to “B1” from “B3” and S&P Global Ratings to “B+” from “B”. If the positive momentum continues, S&P Global Ratings said a rating upgrade could be possible again in November.
Frank Gill, Senior Director at S&P Global Ratings, said that the current account deficit has narrowed following the policy change in the Turkish economy and that they expect the current account deficit to hover just above 1 percent of gross domestic product (GDP) this year.
English 
Turkish