Late on Friday, rating agency Moody's cut Turkey's sovereign credit rating to Ba1 or "junk" from Baa3, citing worries about the rule of law after an attempted coup and risks from a slowing economy, in a move that could deter billions of dollars of investment. "The drivers of the downgrade are ...
ISTANBUL (Reuters) - Turkey's central bank acted to support the lira on Tuesday and Turkish debt insurance costs rose, as markets - looking past data on faster economic growth - took fright at fresh police and protester clashes in Istanbul.
ATHENS — Ratings agency Fitch upgraded its sovereign credit rating for Greece by one notch on Tuesday, citing the country’s progress in cutting its budget deficit and the receding risk of its eurozone exit.
After nearly crashing out of the euro last year and coming under attack for stalled reforms, Greece has won praise in recent months from its international lenders for getting back on track and pushing through unpopular austerity measures.
The winner of the U.S. war in Iraq looks like it will be Turkey. Ironic, because Turkey opposed the war. Nonetheless, a story in the Financial Times resonated with me — as I just returned from the country:
“A new candidate has emerged as the true victor of the Iraq war. A decade after Turkey infuriated Washington by blocking the deployment of U.S. troops through its territory for the 2003 invasion, its businessmen are proving the champions in the battle for the Iraqi market.”
NEW YORK — Rating agency Standard & Poor’s on Tuesday raised Greece’s sovereign credit rating to B-minus with a stable outlook from selective default, citing Europe’s efforts to keep the country part of the euro.
“The upgrade reflects our view of the strong determination of European Economic and Monetary Union (eurozone) member states to preserve Greek membership in the eurozone,” S&P said.