From B to B+: Fitch Upgrades Turkey's Rating

From B to B+: Fitch upgrades Turkey's rating
The “Fitch” credit rating agency announced on Friday evening that it was upgrading Turkey's rating from “B” to “B+” and revised its

outlook from “stable” to “positive”

In a statement, the agency explained that the upgrade to Turkey's long-term debt rating comes against the background of the change

in economic policy since June 2023.
After President Recep Tayyip Erdoğan's re-election in May, Turkey abandoned its unorthodox low interest rate policy

in favour of monetary tightening, raising the main policy rate to 45% from 8.5% last June.

Inflation then rose to 67.07% year on year in February, exceeding forecasts and maintaining the pressure

for further monetary tightening.