Moody's International raised Turkey's credit rating by two notches at once from "B3" to "B1" and maintained its outlook at "positive". The main motivation for raising Turkey's credit rating to "B1" was developments in the management of the economy, especially the increasingly assertive and entrenched return to traditional monetary policy. This yielded the first clear results in reducing Turkey's major macroeconomic imbalances. Turkey's central bank has rapidly increased the credibility of its monetary policy, helping to restore confidence in the Turkish lira.
Source (Anadolu Agency, Edited)
