Tuesday 24, June 2008 by

S&P negative on Turkey

The deterioration in the outlook for Turkey's external finances was the main reason for Standard & Poor's Ratings Services outlook revision on Turkey's ratings to negative from stable in April 2008. A new Standard & Poor's report, titled ‘Evolution of Turkey's external balances reinforces negative outlook on sovereign ratings,’ outlines the most recent developments with respect to Turkey's external accounts, and examines how recent trends reinforce the likelihood of a prolonged deterioration in Turkey's financing conditions.

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