The rating agencies Moody’s and Fitch threatens expulsion from Turkey. State Minister Erdogan holds their assessment of the political situation is unfair. The company ignored that the country has become more stable since the presidential elections.
The new political leadership of Turkey has been obsolete for a big strike against the major rating agencies. The new State Minister Recep Tayyip Erdogan accused the guards of creditworthiness, Moody’s and Fitch, to cherish political motives in assessing the economic situation of the country.
The country had already terminated the cooperation with S & P and could also relations with Moody’s and Fitch caps. The newspaper “Hürriyet” quoted Erdogan on Tuesday with the words: “If they continue like this, I can the Prime Minister say that he also ceases to cooperate with these two.”
It was, however, so far not yet added the Turkish head of state added on his return from a state visit to Qatar. According to Minister Ahmet Davutoglu, a close confidant of Erdogan, Turkey does not have the credit they deserve. The rating agencies had left in their assessment ignores the fact that after the presidential elections in August was greater political stability has returned.
Fitch rates the creditworthiness of Turkey with BBB-, bringing the country’s sovereign bonds are considered to be exceptionally good investment. Both Moody’s and Fitch had recently but repeatedly warned of the possible consequences of continued political uncertainty after the presidential elections on August 10. Here, the maligned by his critics as autocratic longtime Prime Minister Erdogan had arrived in the country’s highest office.
He is also the first president of the country, which has been directly elected by the people. He seeks an office with extended powers. Erdogan had harvested as Prime Minister harsh criticism when he made the access to Internet services such as Twitter and YouTube lock. In addition, a corruption scandal overshadowed his reign.