Moody's upgrades Turkey's credit rating

Istanbul, 22 June 2012 - Moody's Investors Service, the international credit rating agency, has raised Turkish government bond rating by one notch to Ba1 from Ba2. Moody’s cited improvements in the country’s public finances and an increased resilience of the government’s balance sheet to financial shocks. Moody’s is maintaining the positive outlook on the country saying it had noted the effective steps taken towards addressing the current account deficit.Turkeyis one of the world’s fastest growing economies increasing by 8.5 percent in 2011. Source: Invest inTurkey

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