According to Spotblue, Moody's Investors Service, the international credit rating agency, has raised Turkish government bond rating by one notch to Ba1 from Ba2.
Moody’s cited improvements in the country’s public finances and an increased resilience of the government’s balance sheet to financial shocks. Moody’s is maintaining the positive outlook on the country saying it had noted the effective steps taken towards addressing the current account deficit.
Turkey is one of the world’s fastest growing economies increasing by 8,5% in 2011.