S&P's Statement on Turkey's Credit Rating: Decline in Inflation and Reserve Accumulation Are Key Factors.
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International credit rating agency S&P Global Ratings stated that a stronger-than-expected decline in inflation, an improvement in reserves, and continued confidence in the Turkish lira are necessary for an upgrade in Türkiye's credit rating. The agency predicted that the policy interest rate will be at least 35 percent by the end of the year, and also shared its inflation and growth forecasts for 2026 and 2027.
S&P Turkey Lead Analyst Karen Vartapetov said that stronger-than-expected disinflation could support a rating upgrade. Highlighting the importance of reserve accumulation and confidence in the Turkish Lira, Vartapetov noted that the effects of fund liquidations have so far remained limited.
Inflation and reserves will be decisive for a rise in Turkey's credit rating. S&P Global Ratings, the American economic giant, expects the disinflation process to continue in Turkey, while it expects the disinflation process to continue in Turkey, noting the importance of slowing inflation and strengthening international reserves for the credit rating to rise.
Karen Vartapetov, Director of Country Ratings for Central and Eastern Europe (CEE) and Commonwealth of Independent States (CIS) Country Ratings and Turkey Lead Analyst for Turkey, noted that they expect the disinflation process to continue in Turkey, pointing to the importance of disinflation and international reserves for a possible increase in Turkey's credit rating.
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