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      Instrument data
      Issuer
      Republic of Turkey
      Senority
      Unsecured
      Currency
      TRY
      ISIN
      TRD151221T10
      Coupon percent
      11.5%
      Coupon type
      Fixed:Plain Vanilla Fixed Coupon
      Instrument volume
      1,948,180,000
      Maturity date
      15/12/2021
      -
      WD Outlook: N/A
      WD Outlook: N/A
      Latest change
      Withdrawal
      16/12/2021
      General information
      Rating
      Public
      Unsolicited
      With no issuer participation
      UK endorsed
      EU Rated
      Withdrawal reason: end of maturity of the debt obligation, or in case the debt is redeemed, called, prefunded, cancelled
      Thomas Gillet Lead analyst
      Dr. Giacomo Barisone Committee chair
      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.

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