content tagged with fitch

Fitch lowers Turkey’s credit rating

Fitch lowers Turkey’s credit rating

‍In a statement about the downgrade, Fitch Ratings has said, "Policy-driven financial stress episodes of higher frequency and intensity have increased Turkey's vulnerabilities in terms of high inflation, low external liquidity and weak policy credibility."

14 February 2022

Fitch revises Turkey’s outlook from negative to stable

CREDIT RATING AFFIRMED AT 'BB-'

Fitch revises Turkey’s outlook from negative to stable

Fitch Ratings has affirmed Turkey’s credit rating at “BB-” while revising its outlook to stable from negative. The agency expects Turkey's current account deficit to fall to 2.9 percent in 2021 and 2.1 percent of GDP in 2022.

22 February 2021

Fitch Expects Turkey’s Economy to Shrink by 3 Percent in 2020

COVID-19

Fitch Expects Turkey’s Economy to Shrink by 3 Percent in 2020

Fitch has updated its global economic outlook forecasts amid coronavirus outbreak. Having announced that the economy would shrink by 3.9 percent globally, the agency now estimates that the global economy will shrink by 4.6 percent in 2020.

Moody’s Expects Contraction, Fitch Recession in Turkey’s Economy in 2019

Moody’s Expects Contraction, Fitch Recession in Turkey’s Economy in 2019

International credit rating agency Moody’s has announced that while the economy of Turkey will grow by 1.5 percent in 2018, it will contract by 2 percent in the following year. Fitch has also warned that the country could go into recession in 2019.

15 November 2018

Moody’s Downgrades Ratings of 9 Banks in Turkey to B2

Moody’s Downgrades Ratings of 9 Banks in Turkey to B2

International credit rating agency Moody’s has downgraded the foreign currency deposit ratings of Akbank, Alternatifbank, ING Bank, QNB Finansbank, Ziraat Bank, Türk Ekonomi Bank, Garanti Bank, Türkiye Vakıflar Bank and Yapı ve Kredi Bank.

27 September 2018

Fitch Places 25 Banks in Turkey on Watch Negative; Moody’s Places Turkey’s Rating on Review for Downgrade

Fitch Places 25 Banks in Turkey on Watch Negative; Moody’s Places Turkey’s Rating on Review for Downgrade

International credit rating agency Fitch has placed 25 banks in Turkey on rating watch negative while Moody’s has placed Turkey’s credit rating on review for downgrade.