Turkish credit rating improves

Fitch Ratings has improved the sovereign credit rating of Turkey from BB+ to BBB with a sustainable forecast.

The Long-term sovereign credit rating was improved from BBB- to BBB+, RIA Novosti reports.

Turkish Vice President for economy Ali Babajan said that the forecasts of Fitch Rating were delayed, yet fair.

The rate of Turkish bonds dropped from 6.98% to 6.80%.The dollar rate reached 1.7816 lirs, euro 2.2795 lirs.

Turkey seems as an island of stability in the light of European economic recession. Its economy will be discussed at the G20 meeting chaired by Russia. Russian Minister for Finances Anton Siluanov met presidents of G20 central banks.

Adapted from Vestnik Kavkaza