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Turkey Credit Ratings | FX Empire
Turkey
| Moody's | S&P | Fitch | DBRS | Scope Ratings | |||||
|---|---|---|---|---|---|---|---|---|---|
| Rating | Outlook | Rating | Outlook | Rating | Outlook | Rating | Outlook | Rating | Outlook | 
| Ba3 | Stable | B | Positive | B+ | Positive | BB (high) | Negative | BB- | Stable | 
Credit Rating History
Rating Agency  | Date  | Previous Rating  | Previous Outlook  | New Rating  | New Outlook  | 
|---|---|---|---|---|---|
Moody's  | Jul 25, 2025 | B2 | Negative | Ba3 | Stable | 
Scope Ratings  | Dec 06, 2024 | B | Positive | BB- | Stable | 
Scope Ratings  | Jun 28, 2024 | B- | Positive | B | Positive | 
Scope Ratings  | Apr 26, 2024 | B- | Stable | B- | Positive | 
Fitch  | Mar 08, 2024 | B | Negative | B+ | Positive | 
Scope Ratings  | Jan 14, 2024 | B- | Negative | B- | Stable | 
S&P  | Nov 30, 2023 | B | Stable | B | Positive | 
S&P  | Sep 29, 2023 | B | Stable | B | Stable | 
S&P  | Sep 30, 2022 | B+ | Negative | B | Stable | 
Fitch  | Jul 08, 2022 | B+ | Negative | B | Negative | 
Scope Ratings  | Mar 11, 2022 | B | Negative | B- | Negative | 
Fitch  | Feb 12, 2022 | BB- | Negative | B+ | Negative | 
S&P  | Dec 10, 2021 | B+ | Stable | B+ | Negative | 
Fitch  | Dec 02, 2021 | BB- | Stable | BB- | Negative | 
Fitch  | Feb 19, 2021 | BB- | Negative | BB- | Stable | 
Scope Ratings  | Nov 06, 2020 | B+ | Stable | B | Negative | 
Moody's  | Sep 11, 2020 | B1 | Negative | B2 | Negative | 
Fitch  | Aug 21, 2020 | BB- | Stable | BB- | Negative | 
Scope Ratings  | Jul 10, 2020 | BB- | Negative | B+ | Stable | 
Fitch  | Nov 01, 2019 | BB- | Negative | BB- | Stable | 
Table Key
Grade  | Moody's | S&P | Fitch | DBRS | Scope Ratings | 
|---|---|---|---|---|---|
Prime  | Aaa | AAA | AAA | AAA | AAA | 
High Grade  | Aa1 | AA+ | AA+ | AA (high) | AA+ | 
| Aa2 | AA | AA | AA | AA | |
| Aa3 | AA- | AA- | AA (low) | AA- | |
Upper Medium Grade  | A1 | A+ | A+ | A (high) | A+ | 
| A2 | A | A | A | A | |
| A3 | A- | A- | A (low) | A- | |
Lower Medium Grade  | Baa1 | BBB+ | BBB+ | BBB (high) | BBB+ | 
| Baa2 | BBB | BBB | BBB | BBB | |
| Baa3 | BBB- | BBB- | BBB (low) | BBB- | |
Non-investment Grade Speculative  | Ba1 | BB+ | BB+ | BB (high) | BB+ | 
| Ba2 | BB | BB | BB | BB | |
| Ba3 | BB- | BB- | BB (low) | BB- | |
Highly Speculative  | B1 | B+ | B+ | B (high) | B+ | 
| B2 | B | B | B | B | |
| B3 | B- | B- | B (low) | B- | |
Substantial Risks  | Caa1 | CCC+ | CCC+ | CCC | |
| Caa2 | CCC | CCC | CCC | CCC | |
| Caa3 | CCC- | CCC- | CCC | ||
Extremely Speculative  | Ca | CC | CC | CCC | CC | 
| C | CCC | C | |||
In Default with Little Prospect for Recovery  | CD | RD | RD | ||
In Default  | SD | SD | |||
| C | D | D | D | D | |
| DD | DD | ||||
| DDD | DDD | ||||
Not Rated  | NR | NR | NR | NR | NR |