Turkey's Rating Cut

[JStone]

Turkey Rating Outlook Cut to ‘Stable’ at Fitch on Economy - Businessweek

Turkey had the outlook on its long- term foreign currency rating cut to “stable” from “positive” at Fitch Ratings, which said near-term risks to economic stability increased.

Fitch affirmed the Turkey’s rating at BB+, one step below investment grade, and short-term foreign currency rating at B.

The revision “reflects an increase in near-term risks to macroeconomic stability as Turkey faces the challenge of reducing its large current-account deficit and above-target inflation rate,” Fitch analyst Ed Parker said in an e-mailed statement today.

The lira weakened 1 percent to 1.8706 per dollar at 12:30 p.m. in Istanbul, extending earlier losses. Yields on benchmark two-year bonds rose 17 basis points to 10.68 percent. The main ISE National 100 share index slid 1.9 percent to 50,981.04.

Turkey’s foreign-currency debt is rated BB by S&P, two steps below investment grade, with a positive outlook and an equivalent Ba2 by Moody’s Investors Service.

 

[High_Gravity]

I'm going to cut my Turkey with a knife tomorrow on my dinner table, can't wait.

 

[ekrem]

Standard & Poor’s upgrades Turkey to investable
Standard & Poor’s upgrades Turkey to investable - Hurriyet Daily News

Fitch on the other hand has decreased outlook to stable.
No credit-rating "cut". Stable means, that in near future credit-rating will neither be upgraded or downgraded, but will stay same.

 

[JStone]

Standard & Poor’s upgrades Turkey to investable
Standard & Poor’s upgrades Turkey to investable - Hurriyet Daily News

Fitch on the other hand has decreased outlook to stable.
No credit-rating "cut". Stable means, that in near future credit-rating will neither be upgraded or downgraded, but will stay same.

Turkey's Economic Lie: Turkey No Economic Powerhouse, Erdogan’s Credit Bubble Will Soon Explode

Some refer to him as “the Middle East’s new sultan in a neo-Ottoman empire” – yet the truth about Erdogan’s kingdom is utterly different. We are not facing an economic power, but rather, a state whose credit bubble will be bursting any moment now and bringing down its economy.

The budget deficit of the collapsing Greece compared to its GDP stands at some 10%, and the world is alarmed. At the same time, Turkey’s deficit is at 9.5%, yet some members of the financial media describe the Turkish economy as a success story (for comparison’s sake, Israel’s deficit stands at some 3% and is expected to decline to 2% this year

While Turkey’s economy grew by some 10% this year, this was merely the result of financial manipulation.

So how does the system work? The banks in Erdogan’s Turkey handed out loans and mortgages to any seeker in recent years, offering very low interest rates; this was in fact a gift. As the interest rate was so low, Turkish citizens used more and more credit, mostly for consumption.

And how did Turkey’s Central Bank finance this credit party? Via loans: Erdogan’s bank borrowed money in the world and handed it out to its citizens. However, Turkey’s deficit kept growing because of it, until it reached a scary 8% of GDP; by the end of the year the figure is expected to reach 10%.

Turkey’s external debt doubled itself in the past 18 months, which were election campaign months. Only a small part of the deficit (15%) was financed by foreign investment. The rest constitutes immense external debts.

Now it’s clear that Erdogan’s regime bought the voters in the recent elections. Most of the Turkish public elected him not because of Islamic sentiments, but rather, because he handed out low-interest loans to everyone. I will provide you with cheap money so you can become addicted to shopping, and you shall elect me.

This created Turkey’s credit bubble, which may explode any day now, because the date for returning the loans approaches. Will the Saudis help Erdogan as he hopes? This is highly doubtful. Nobody is willing to pay for attacks on Israel, and the West is annoyed by Erdogan’s thuggery. Why should they help him?

Moreover, Turkey’s unemployment rate is 13% and the local currency continues to plummet vis-à-vis the dollar – it reached its lowest levels since the 2009 global crisis. With a weak currency and with a stock exchange that lost some 40% of its value in dollars in the last six months, Erdogan wants to be the Middle East’s ruler?

Once the bubble explodes, the score with Erdogan will be settled, by the journalists his government ordered to arrest, by army officers charged with imaginary accusations, by the restrained scientists, the politicians, and mostly the general public, which shall be facing an economic disaster.

And this is where Israel comes into the picture. Why talk about the approaching economic catastrophe? Why talk about this disgrace, when it’s better to create an artificial crisis vis-à-vis Israel, a spin that the whole world will be talking about instead of talking about the sinking Turkey? After all, the Marmara raid happened more than a year ago, why did it emerge again now? Is it only because of the Palmer Report?

We shall wait a few more months, and then we shall see what really happens in the new sultan’s kingdom.
Turkey?s economic lie - Israel Opinion, Ynetnews

 

[JStone]

Standard & Poor’s upgrades Turkey to investable
Standard & Poor’s upgrades Turkey to investable - Hurriyet Daily News

Fitch on the other hand has decreased outlook to stable.
No credit-rating "cut". Stable means, that in near future credit-rating will neither be upgraded or downgraded, but will stay same.

S&P Revises Turkey's Credit Rating Outlook To Negative

The credit rating agency Standard & Poor's (S&P) revised Turkey's credit rating outlook to negative from stable on Thursday. The Turkish lira fell below 1.30 against the dollar as the rating outlook cut and higher-than-expected inflation data.
S&P revises Turkey's credit rating outlook to negative

 

[ekrem]

S&P Revises Turkey's Credit Rating Outlook To Negative

The credit rating agency Standard & Poor's (S&P) revised Turkey's credit rating outlook to negative from stable on Thursday. The Turkish lira fell below 1.30 against the dollar as the rating outlook cut and higher-than-expected inflation data.
S&P revises Turkey's credit rating outlook to negative

Dude, the article you posted is at least 4 years old.
It's from the archives of Hürriyet newspaper.

The economy minister the article references is nowadays rector of an University and not in politics or government.

 

[spectrumc01]

S&P Revises Turkey's Credit Rating Outlook To Negative

The credit rating agency Standard & Poor's (S&P) revised Turkey's credit rating outlook to negative from stable on Thursday. The Turkish lira fell below 1.30 against the dollar as the rating outlook cut and higher-than-expected inflation data.
S&P revises Turkey's credit rating outlook to negative

Dude, the article you posted is at least 4 years old.
It's from the archives of Hürriyet newspaper.

The economy minister the article references is nowadays rector of an University and not in politics or government.

do you really think he cares ?

 

[ekrem]

Turkey's Economic Lie: Turkey No Economic Powerhouse, Erdogan’s Credit Bubble Will Soon Explode
Turkey?s economic lie - Israel Opinion, Ynetnews

This opinion article was already basis of this thread, and it was already discredited as wishful thinking based on false data.

usmb.com --->
http://www.usmessageboard.com/the-m...-about-to-burst-sorry-ekrem-its-da-truth.html

 

[JStone]

Turkey's Economic Lie: Turkey No Economic Powerhouse, Erdogan’s Credit Bubble Will Soon Explode
Turkey?s economic lie - Israel Opinion, Ynetnews

This opinion article was already basis of this thread, and it was already discredited as wishful thinking based on false data.

usmb.com --->
http://www.usmessageboard.com/the-m...-about-to-burst-sorry-ekrem-its-da-truth.html

Moses Rules. Allah Sucks.

S&P raises Israel's credit rating from A to A+

The agency said its decision reflected Israel’s rapid economic growth and responsible economic policy. S&P also reaffirmed Israel’s local currency rating at AA-.
S&P raises Israel's credit rat...JPost - Business - Business News

 

[JStone]

S&P Revises Turkey's Credit Rating Outlook To Negative

Dude, the article you posted is at least 4 years old.
It's from the archives of Hürriyet newspaper.

The economy minister the article references is nowadays rector of an University and not in politics or government.

do you really think he cares ?

Sure, Jews care about Turkey. We care to sell you advanced drones and care to train your asses. Otherwise, Turkey is a useless pustule.
Turkish Military Delegation In Israel For Drone Deal - World Politics - Zimbio

 

[Toro]

So what if Turkey was downgraded? Everyone's getting downgraded. It's all the rage.

 

[Valerie]

 

[ekrem]

So what if Turkey was downgraded? Everyone's getting downgraded. It's all the rage.

Turkey wasn't downgraded.
But, there are short-term risks as the dollarization rate within Turkey is very small, and there isn't much foreign currency in Turkey except with the Central Bank.
In 2012 Turkey will repay about 130 Billion $ in debt and our currency-exchange rate against $ will be put under immense stress if all of our foreign-trade has also to be transacted with $.
That's why they've signed the currency swap deal with China, Russia and a bunch of others so that the foreign-trade can be payed by local currencies of the trading countries instead of Dollar.

A rich friend for Turkey | Financial Times

 

[ekrem]

 

[JStone]

S&P raises Israel's credit rating from A to A+ Moses Rules. Allah Sucks.

The agency said its decision reflected Israel’s rapid economic growth and responsible economic policy. S&P also reaffirmed Israel’s local currency rating at AA-.
S&P raises Israel's credit rat...JPost - Business - Business News

 

[High_Gravity]

My Thanksgiving Turkey lasted 4 days until I ate it all, now thats longivity for you.

 

[JStone]

My Thanksgiving Turkey lasted 4 days until I ate it all, now thats longivity for you.

Turks eat roast Armenian for their Thanksgiving.

 

[High_Gravity]

My Thanksgiving Turkey lasted 4 days until I ate it all, now thats longivity for you.

Turks eat roast Armenian for their Thanksgiving.

Yup, with a side of scalloped Kurd and Greek cutlets with gravy.

 

[Ropey]

My Thanksgiving Turkey lasted 4 days until I ate it all, now thats longivity for you.

No soup? Having a turkey without making soup is like having an ekrem without wiping HG...

 

[High_Gravity]

My Thanksgiving Turkey lasted 4 days until I ate it all, now thats longivity for you.

No soup? Having a turkey without making soup is like having an ekrem without wiping HG...