US EditionFitch Downgrades Outlook on Turkey as War Impacts Drain FX Reserves
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4 Articles
Fitch Ratings Affirms Turkiye at BB- with Stable Outlook Amid Rising External Risks
Fitch Ratings on Saturday affirmed Türkiye’s sovereign credit rating at “BB-” while revising the outlook to “stable” from “positive.” In its latest assessment, Fitch said Türkiye’s long-term foreign-currency issuer default rating remains at BB-, with the outlook revision reflecting heightened external risks. The agency said the change was driven primarily by a marked decline in Türkiye’s foreign exchange reserves since the outbreak of the Iran w…
Fitch predicted that the current account deficit will increase in 2026 due to the impact of high energy prices, and will widen further in 2027. It stated that an additional $20 per barrel increase in oil prices could expand the current account deficit by more than 1% of national income and trigger upward inflation.
Fitch downgrades Turkey’s outlook, cites $50 billion drop in reserves and Iran war risks - Turkish Minute
Fitch Ratings on Friday lowered Turkey’s outlook to stable from positive, saying the country has burned through more than $50 billion in reserves to support the lira since the start of the Iran war and now faces added risks from a longer regional conflict, even as it kept Turkey’s foreign currency credit rating at BB-.
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