12/1/2024 Rating announcement EN
Scope affirms Türkiye’s long-term foreign-currency ratings at B- and revises the Outlooks to Stable
More conventional monetary policy supporting progressive rebalancing of the economy underpins the revision of the Outlooks. Persistent policy uncertainty amid external and financial vulnerabilities anchors the ratings.
4/8/2023 Rating announcement EN
Scope affirms Türkiye’s long-term foreign-currency ratings at B- and maintains Negative Outlook
Uncertain policy normalisation, vulnerability to deeper balance of payment and financial crises anchor the Negative Outlooks. Moderate levels of public debt, a resilient banking system, a large and diversified economy support the ratings.
11/3/2022 Rating announcement EN
Scope downgrades Turkey’s long-term foreign-currency ratings to B-, and maintains a Negative Outlook
Unsustainable economic policies and risk of deeper balance of payment and financial crisis drive the rating downgrade. Moderate levels of sovereign debt, a resilient banking system alongside a large, diversified economy support ratings.
6/11/2020 Rating announcement EN
Scope downgrades Turkey’s long-term foreign-currency ratings to B and revises Outlooks to Negative
Severe external vulnerabilities and risk of a balance of payment crisis drive the rating downgrade. The Negative Outlooks on long-term ratings reflect an inadequate economic policy framework that accentuates existing macroeconomic imbalances.
10/7/2020 Rating announcement EN
Scope downgrades Turkey’s foreign- and local-currency long-term ratings to B+ with a Stable Outlook
External sector risks and a deteriorating economic policy framework drive the rating downgrade. Moderate public and private debt level, a large and diversified economy, and resilient banking system cushions are credit strengths.
14/6/2019 Rating announcement EN
Scope affirms Turkey’s credit rating at BB-, maintains Outlook at Negative
External sector risks, a deterioration in institutional strengths and increased macroeconomic imbalances underscore the Negative Outlook. Low public debt, resilience in the banking system and a flexible exchange rate support the rating level.
16/8/2018 Rating announcement EN
Scope downgrades Turkey’s credit rating to BB- from BB+ and changes Outlook to Negative
Deterioration in Turkey's institutional strengths, increased macroeconomic imbalances and risks to reserve adequacy drive the downgrade. Policy uncertainty, rising event risks and ongoing external vulnerabilities underscore the Negative Outlook.
26/7/2018 Rating announcement EN
Scope places Turkey’s BB+ ratings under review for downgrade
The erosion of Turkey's institutional strength and rising economic and external imbalances drive the placement under review. High growth potential, exchange rate flexibility, sound public finances and banking sector resilience support the rating.
22/9/2017 Rating announcement EN
Scope upgrades Turkey’s newly published credit rating to BB+ from BB and changes Outlook to Stable
A large and resilient economy, sound public finances and a well-regulated banking sector support the rating; high external financing needs of the private sector, application of rule of law and political uncertainties are constraints.