S&P no longer has ratings deal with Turkish government January 15, 2013 - 13:33 AMT PanARMENIAN.Net - Credit-rating agency Standard & Poor's said on Monday, Jan 14, that it no longer has a ratings deal with Turkey's government but it will still offer assessments on the fast-growing economy to meet market interest, Reuters reported. "We are converting our issuer credit ratings on Turkey to 'unsolicited' as we no longer have a rating agreement with this sovereign," S&P said in a statement. "We will nonetheless continue to rate Turkey on an unsolicited basis because we believe that we have access to sufficient public information of reliable quality to support our analysis .... and because we believe there is significant market interest in this unsolicited rating." It said that as of February 14 it was withdrawing all its ratings on individual Turkish debt. It will only be rating the sovereign's overall credit-worthiness. S&P rates Turkey at BB, two rungs below investment grade. Fitch has raised it to investment grade at BBB- and Moody's just below investment grade at Ba1.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty  Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza.Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations.Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |
