OECD upgrades Turkey's risk classification, will help credit ratings

The decision by the Organization for Economic Cooperation and Development (OECD) to upgrade Turkey's country risk classification from category 5 to category 4 on January 30 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, economic experts said.