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S&p Downgrades Turkey Rating Outlook to Stable from Positive on Rising Risk


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  • S&P cut the outlook on Turkey's 'BB' sovereign credit rating to stable from positive on rising risks to its creditworthiness
  • S&P said Turkey's high current account deficit and net external debt in the financial made it vulnerable to shocks.
  • S&P estimates that external financing needs will reach 142 pct of current account receipts in 2012.
  • The agency also said that its credit rating could improve if Turkey moves toward more balanced and sustainable growth


Published: 2012-05-01 13:01:00 UTC+00

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May 23 at 17:35 UTC
 
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