S&P affirms Turkey's credit rating

S&P affirms Turkey's credit rating

WASHINGTON- Anadolu Agency
S&P affirms Turkeys credit rating

The Standard & Poor's (S&P) rating agency kept Turkey's credit rating unchanged late on Jan. 22. 

Turkey's long-term foreign currency credit rating remained at B+, while its long-term local currency credit rating was also preserved at BB-.

The outlook is stable, said the agency and added that Turkey's economy in 2020 grew 0.9% due to credits incentives because of the coronavirus pandemic.

In July, S&P forecasted Turkey's economy would shrink 3.3% in 2020.