"Considering the Fate of the AKP
Filed under: Turkey — Benjamin on April 9, 2008 @ 10:38 pm CEST
The drama surrounding the potential closure of the ruling AKP party acquired a significant nuance with the decision of Standard & Poor’s to cut Turkey’s credit rating to three increments below investment grade (BB-) last week. The credit agency attributed its sudden decision to “the increasingly challenging political and global environment that Turkey faces in the near term”. Moody’s, on the contrary, has decided to keep its rating unchanged, choosing to focus on more fiscal factors for its credit appraisal."
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