Current Turkey credit ratings, according to main rating agencies.

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Rating Agency Rating Outlook Last Update Action
Standard & Poor's B+ - 17 Aug 2018 rating downgrade
Moody's Investors Service B1 negative 15 Jun 2019 rating downgrade
Fitch Ratings BB- - 2 Nov 2019 outlook upgrade
DBRS BB (high) negative 21 Jul 2016 rating downgrade

Turkey Credit Ratings: Long-term Rating Scales Comparison

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Description S&P Moody's Fitch DBRS Grade
Prime AAA Aaa AAA AAA Investment
High Medium Grade AA+ Aa1 AA+ AA(high)
AA Aa2 AA AA
AA- Aa3 AA- AA(low)
Upper Medium Grade A+ A1 A+ A(high)
A A2 A A
A- A3 A- A(low)
Lower Medium Grade BBB+ Baa1 BBB+ BBB(high)
BBB Baa2 BBB BBB
BBB- Baa3 BBB- BBB(low)
Speculative BB+ Ba1 BB+ BB(high) Speculative
BB Ba2 BB BB
BB- Ba3 BB- BB(low)
Highly Speculative B+ B1 B+ B(high)
B B2 B B
B- B3 B- B(low)
Substantial Risk CCC+ Caa1 CCC+ CCC(high)
CCC Caa2 CCC CCC
CCC- Caa3 CCC- CCC(low)
Extremely Speculative CC Ca CC CC
C Ca C C
In Default RD C RD RD
SD / SD SD
D / D D

Turkey Credit Ratings historical data

Agencies:

Timetable of Turkey credit ratings by S&P, Moody's, Fitch and DBRS agencies.
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.

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Date S&P Moody's Fitch DBRS
2 Nov 2019 BB-
13 Jul 2019 BB-
15 Jun 2019 B1
17 Aug 2018 B+ Ba3
13 Jul 2018 BB
1 May 2018 BB-
7 Mar 2018 Ba2
17 Mar 2017 Ba1
27 Jan 2017 BB BB+
4 Nov 2016 BB
23 Sep 2016 Ba1
19 Aug 2016 BBB-
21 Jul 2016 BB (high)
20 Jul 2016 BB
6 May 2016 BB+
11 Apr 2014 Baa3
7 Feb 2014 BB+
23 May 2013 BBB (low)
16 May 2013 Baa3
27 Mar 2013 BB+
5 Nov 2012 BBB-
20 Jun 2012 Ba1
1 May 2012 BB
23 Nov 2011 BB+
24 Nov 2010 BB+
5 Oct 2010 Ba2
19 Feb 2010 BB
8 Jan 2010 Ba2
3 Dec 2009 BB+
27 Oct 2009 BB-
18 Sep 2009 Ba3
17 Sep 2009 BB-
13 Nov 2008 BB-
31 Jul 2008 BB-
3 Apr 2008 BB-
9 May 2007 BB-
27 Jun 2006 BB-
23 Jan 2006 BB-
14 Dec 2005 Ba3
6 Dec 2005 BB-
11 Feb 2005 B1
13 Jan 2005 BB-
25 Aug 2004 B+
17 Aug 2004 BB-
8 Mar 2004 B+
9 Feb 2004 B+
21 Oct 2003 B1
16 Oct 2003 B+
25 Sep 2003 B
6 Aug 2003 B-
28 Jul 2003 B
25 Mar 2003 B-
7 Nov 2002 B-
10 Jul 2002 B1
9 Jul 2002 B-
26 Jun 2002 B-
5 Feb 2002 B
29 Jan 2002 B-
15 Jan 2002 B1
30 Nov 2001 B-
2 Aug 2001 B
11 Jul 2001 B-
27 Apr 2001 B-
17 Apr 2001 B-
6 Apr 2001 B1
2 Apr 2001 B+
23 Feb 2001 B
22 Feb 2001 BB-
21 Feb 2001 B+ B1
5 Dec 2000 B+
27 Apr 2000 BB-
25 Apr 2000 B+
10 Apr 2000 B+
10 Dec 1999 B
30 Nov 1999 B1
21 Jan 1999 B
11 Aug 1998 B
13 Mar 1997 B1
9 Jan 1997 Ba3
20 Dec 1996 B+
13 Dec 1996 B
29 Jul 1996 BB-
17 Jul 1996 B+
18 Oct 1995 B+
26 Sep 1995 BB-
24 Jul 1995 B+
16 Aug 1994 B+
10 Aug 1994 B
2 Jun 1994 Ba3
29 Apr 1994 B+
22 Mar 1994 BB
14 Jan 1994 BBB-
13 Jan 1994 Ba1
3 May 1993 BBB

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