Upgrade In Turkey's OECD Risk Classification Can Lead To Other Upgrades, Sources

ANKARA/PARIS - Organization for Economic Cooperation and Development (OECD) has upgraded Turkey`s country risk classification from category 5 to category 4 on January 30th, a move that could also push credit rating agencies to upgrade Turkey`s current credit rating which is BB-.
Among all countries in category 4, the lowest credit rating (i.e. Egypt) is BB+ and the highest is BBB.
Earlier, international credit rating agency Moody`s confirmed Turkey`s rating as Ba3 and Standard & Poor`s and Fitch confirmed it as BB-.
The Country Risk Classifications are produced by OECD analysts for the purpose of setting minimum premium rates for transactions covered by the Export Credit Arrangement. Category 7 represents the highest risk on the scale.
An increase in Turkey`s gross national product, which was re-calculated, would be another indicator to help upgrade Turkey`s credit rating, sources underlined.