Moody's Revises Outlook On Turkey's Country Ratings To Stable From Negative

NEW YORK, Jan 15 (A.A) - Leading rating organization Moody's raised on Tuesday the outlook to stable from negative for Turkey's B1 country ceilings for foreign currency debt and B3 country ceiling on foreign currency bank deposits.
This means that the outlook can be raised to positive or rating can be increased in the following stage if the positive course in economy continues.
A statement of Moody's said that the likelihood of ratings downgrades had diminished over the following year because of the improved refinancing and pricing prospects for domestic as well as external debt.
The statement stressed that the economic recovery in Turkey in 2002 was likely to be softer than earlier anticipated.