Mavi Boncuk |
Turkish shares rose and bond yields dipped on Friday while the lira was steady as investors expected a benign assessment of the Turkish economy from ratings agency Moody's after European markets close.
Economy Minister Nihat Zeybekci said he did not expect the agency to make negative comments in its regular update, forecasting that it would maintain Turkey's Baa3 investment grade rating. Falling oil prices have taken some pressure off Turkey's stubbornly high inflation and current account deficit, but structural problems remain and other agencies have voiced concern about political meddling in the economy ahead of a parliamentary election next June.
The lira stood at 2.2360 against the dollar at 09301 GMT, just off a level of 2.2350 late on Thursday. The benchmark 10-year government bond yield dipped to 7.86 percent from a spot close of 7.91 percent on Thursday.
Turkey | Credit Rating Standard & Poors credit rating for Turkey stands at BB. Moodys rating for Turkey sovereign debt is Ba1. Fitchs credit rating for Turkey is BBB-. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Turkey thus having a big impact on the country's borrowing costs.
Turkish shares rose and bond yields dipped on Friday while the lira was steady as investors expected a benign assessment of the Turkish economy from ratings agency Moody's after European markets close.
Economy Minister Nihat Zeybekci said he did not expect the agency to make negative comments in its regular update, forecasting that it would maintain Turkey's Baa3 investment grade rating. Falling oil prices have taken some pressure off Turkey's stubbornly high inflation and current account deficit, but structural problems remain and other agencies have voiced concern about political meddling in the economy ahead of a parliamentary election next June.
The lira stood at 2.2360 against the dollar at 09301 GMT, just off a level of 2.2350 late on Thursday. The benchmark 10-year government bond yield dipped to 7.86 percent from a spot close of 7.91 percent on Thursday.
Turkey | Credit Rating Standard & Poors credit rating for Turkey stands at BB. Moodys rating for Turkey sovereign debt is Ba1. Fitchs credit rating for Turkey is BBB-. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Turkey thus having a big impact on the country's borrowing costs.