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Moody's upgrades Turkiye's ratings to B1 from B3; outlook positive
Jul 22, 2024
Insights
- Moody's Ratings has upgraded Turkiye's credit rating from B1 to B3, citing better governance, a tighter monetary policy stance and progress on inflation, while maintaining a ‘positive’ outlook.
- This was its first upgrade for the country in over a decade.
- The level of dollarisation is high there and confidence in lira has not yet been fully restored, it noted.