S&P expected to raise Turkish credit rating
The Turkish economy grew 8.5% in 2011, the highest growth rate in the Organization for Economic Cooperation and Development (OECD) and the second-highest after China in the G-20 group of industrialized nations. The government expected a rating upgrade. But in a move that shocked Ankara, S&P downgraded Turkey’s outlook from “positive” to “stable” on May 1, 2012. Government officials responded in the harshest terms, scrambling to punish S&P.
More:S&P expected to raise Turkish credit rating - Al-Monitor: the Pulse of the Middle East