Small decrease expected in Turkey's external fragility

Standard and Poor's (S&P) Regional Ratings General Manager of Turkey Zeynep Holmes said there was an expectation of a small decrease in Turkey's external fragility. Holmes replied the questions of Anadolu Agency over S&P still keeping Turkey's credit rate one grade under the "investable" level. Holmes touched on S&P's probability of upgrading Turkey's credit rating to "investable" in the next term and said, "according to our criteria, there are several points which do not match. The problem of current account deficit is not just itself, yet its financing, a problem as well. We expect a decrease in the external fragility." "Turkey is already working on several reforms, with energy at first. So, there is a few more facts to look at for the continuity of these structural reforms as there is also an increasing external demand. There are not much expectations for the short term. That is why we keep the country's note at fixed," noted Holmes.