Announcements

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      Instrument data
      Senority
      Senior Unsecured
      Currency
      USD
      ISIN
      US900123CM05
      Coupon percent
      5.75%
      Coupon type
      Fixed:Plain Vanilla Fixed Coupon
      Instrument volume
      1,750,000,000
      Maturity date
      11/05/2047
      -
      B- Outlook: Stable
      B- Outlook: Stable
      Latest change
      Outlook/trend
      12/01/2024
      General information
      Rating
      Public
      Unsolicited
      With issuer participation
      UK endorsed
      EU Rated
      Thomas Gillet Lead analyst
      Alvise Lennkh-Yunus Committee chair
      Scope affirms Türkiye’s long-term foreign-currency ratings at B- and revises the Outlooks to Stable

      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.

      Scope affirms Türkiye’s long-term foreign-currency ratings at B- and maintains Negative Outlook

      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.

      Scope downgrades Turkey’s long-term foreign-currency ratings to B-, and maintains a Negative Outlook

      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.

      Scope downgrades Turkey’s long-term foreign-currency ratings to B and revises Outlooks to Negative

      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.

      Scope downgrades Turkey’s foreign- and local-currency long-term ratings to B+ with a Stable Outlook

      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.

      Scope affirms Turkey’s credit rating at BB-, maintains Outlook at Negative

      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.

      Scope downgrades Turkey’s credit rating to BB- from BB+ and changes Outlook to Negative

      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.

      Scope places Turkey’s BB+ ratings under review for downgrade

      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.

      Scope upgrades Turkey’s newly published credit rating to BB+ from BB and changes Outlook to Stable

      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.

      Date Title