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Sustainable growth key for Turkey rating

by

Jun 14, 2011 - 12:00 am GMT+3
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by Jun 14, 2011 12:00 am

Ratings agency Fitch said on Monday a potential upgrade of Turkey's sovereign ratings would depend on political stability and securing sustainable growth consistent with macroeconomic stability.

In a statement following Sunday's parliamentary election, which the ruling AK Party won comfortably, Fitch said moves to change the constitution should not distract from measures to cool down the economy which has shown signs of overheating.

Fitch currently has a 'BB+' rating on Turkey, one notch below investment grade.

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