Türkiye Rating: Turkey Credit Rating

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Rating Moody's Türkiye
Long term RatingShort term Rating
Foreign currencyLocal currencyForeign currencyLocal currency
DateRating(Outlook)DateRatingDateRatingDateRating
2024-01-12B3 (Positive)
2022-08-12B3 (Stable)
2021-12-03B2 (Negative)
2020-09-11B2 (Negative)
2019-06-14B1 (Negative)
2018-08-17Ba3 (Negative)
2018-06-01Ba2 (Under Review)
2018-03-07Ba2 (Stable)2024-01-12B3
2017-03-17Ba1 (Negative)2022-08-12B3
2016-09-23Ba1 (Stable)2021-12-03B2
2016-07-18Baa3 (Under Review)2020-09-11B2
2015-12-04Baa3 (Negative)2019-06-14B1
2014-04-11Baa3 (Negative)2018-08-17Ba3
2013-05-16Baa3 (Stable)2018-06-01Ba2
2012-06-20Ba12018-03-07Ba2
2010-10-05(Positive)2017-03-17Ba1
2010-01-08Ba2 (Stable)2016-09-23Ba1
2009-09-18(Positive)2016-07-18Baa3
2005-12-14Ba3 (Stable)2015-12-04Baa3
2005-02-11(Positive)2014-04-11Baa3
2004-09-30(Stable)2013-05-16Baa3
2003-11-15(Stable)2012-06-20Ba1
2000-12-21B12010-01-08Ba2
1997-03-13B12005-12-14Ba3
1994-06-02Ba32005-02-11B1
1994-01-13Ba12004-09-30B2
1992-05-05Baa32001-04-06B3
Moody's: Long term Rating
Rating S&P Türkiye
Long term RatingShort term Rating
Foreign currencyLocal currencyForeign currencyLocal currency
DateRating(Outlook)DateRatingDateRatingDateRating
2023-11-30B (Positive)
2023-09-29B (Stable)
2023-03-31B (Negative)
2022-09-30B (Stable)2023-11-30B
2021-12-10B+ (Negative)2023-09-29B
2018-08-17B+ (Stable)2023-03-31B
2018-05-01BB- (Stable)2022-09-30B
2017-01-27(Negative)2022-04-01B+
2016-11-04(Stable)2021-12-10BB-
2016-07-20BB (Negative)2018-08-17BB-
2016-05-06(Stable)2018-05-01BB
2014-02-07(Negative)2016-07-20BB+2016-07-20B
2013-03-27BB+ (Stable)2015-05-08BBB-2015-05-08A-3
2012-05-01(Stable)2013-03-27BBB2013-03-27A-2
2010-02-19BB (Positive)2011-09-20BBB-2003-07-28B2011-09-20A-3
S&P: Long term Rating
Rating Fitch Türkiye
Long term RatingShort term Rating
Foreign currencyLocal currencyForeign currencyLocal currency
DateRating(Outlook)DateRatingDateRatingDateRating
2022-07-08B (Negative)
2022-02-11B+ (Negative)
2020-02-21BB-
2019-11-01BB-2020-02-21B
2019-07-12BB-2022-07-08B2019-11-01B
2019-05-03BB2022-02-11B+2019-07-12B
2018-12-14BB2020-02-21BB-2019-05-03B
2018-07-13BB (Negative)2019-11-01BB-2018-12-14B
2018-01-19BB+ (Stable)2019-07-12BB-2018-07-13B
2017-07-21BB+ (Stable)2019-05-03BB+2018-01-19B
2017-01-27BB+ (Stable)2018-12-14BB+2017-07-21B
2016-08-19BBB- (Negative)2018-07-13BB+2017-01-27B
2016-07-22BBB- (Stable)2018-01-19BBB-2016-08-19F3
2016-02-26BBB- (Stable)2017-07-21BBB-2016-07-22F3
2015-09-18BBB-2017-01-27BBB-2016-02-26F3
2015-03-20BBB-2016-08-19BBB-2015-09-18F3
2014-10-03BBB- (Stable)2016-07-22BBB-2015-03-20F3
2014-08-13BBB- (Stable)2016-02-26BBB2014-10-03F3
2014-07-31BBB- (Stable)2015-09-18BBB2014-08-13F3
2014-06-27BBB- (Stable)2015-03-20BBB2014-07-31F3
2014-06-04BBB- (Stable)2014-10-03BBB2014-06-27F3
2014-05-28BBB- (Stable)2014-08-13BBB2014-06-04F3
2014-04-10BBB- (Stable)2014-07-31BBB2014-05-28F3
2014-04-04BBB- (Stable)2014-06-27BBB2014-04-10F3
2014-03-05BBB- (Stable)2014-06-04BBB2014-04-04F3
2014-02-17BBB- (Stable)2014-05-28BBB2014-03-05F3
2014-02-13BBB- (Stable)2014-04-10BBB2014-02-17F3
2014-01-31BBB- (Stable)2014-04-04BBB2014-02-13F3
2014-01-24BBB- (Stable)2014-03-05BBB2014-01-31F3
2014-01-02BBB- (Stable)2014-02-17BBB2014-01-24F3
2013-12-03BBB- (Stable)2014-02-13BBB2014-01-02F3
2013-11-28BBB- (Stable)2014-01-31BBB2013-12-03F3
2013-10-24BBB- (Stable)2014-01-24BBB2013-11-28F3
2013-08-30BBB- (Stable)2014-01-02BBB2013-10-24F3
2013-07-11BBB- (Stable)2013-12-03BBB2013-08-30F3
2013-05-28BBB- (Stable)2013-11-28BBB2013-07-11F3
2013-05-01BBB- (Stable)2013-10-24BBB2013-05-28F3
2013-03-25BBB- (Stable)2013-08-30BBB2013-05-01F3
2013-02-26BBB- (Stable)2013-07-11BBB2013-03-25F3
2012-08-01BB+ (Stable)2013-05-28BBB2013-02-26F3
2012-03-26BB+ (Stable)2013-05-01BBB2012-11-05F3
2012-02-24BB+ (Stable)2013-03-25BBB2012-09-14B
2012-01-24BB+ (Stable)2013-02-26BBB2012-08-01B
2011-12-20BB+ (Stable)2012-11-05BBB2012-03-26B
2011-11-23BB+ (Stable)2012-09-14BB+2012-02-24B
2011-05-20BB+2012-08-01BB+2012-01-24B
2010-11-24BB+ (Positive)2012-03-26BB+2011-12-20B
2009-12-03BB+ (Stable)2012-02-24BB+2011-11-23B
2009-10-27BB- (Positive)2012-01-24BB+2011-05-20B
2007-12-12BB- (Stable)2011-12-20BB+2010-11-24B
2007-05-09BB- (Stable)2011-11-23BB+2009-12-03B
2005-12-06BB- (Positive)2011-05-20BB+2009-10-27B
2005-01-13BB- (Stable)2010-11-24BB+2007-12-12B
2004-08-25B+ (Positive)2009-12-03BB+2007-05-09B
2004-02-09B+ (Stable)2009-10-27BB2005-12-06B
2003-09-25B (Positive)2007-12-12BB2005-01-13B
2003-08-06B- (Positive)2007-05-09BB-2004-08-25B
2003-03-25B- (Negative)2005-12-06BB-2004-02-09B
2002-02-05B (Stable)2005-01-13BB-2003-09-25B
2001-08-02B (Negative)2004-08-25B+2003-08-06B
2001-04-02B+ (Negative)2004-02-09B+2003-03-25B
2001-02-22BB- (Negative)2003-09-25B2002-02-05B
2000-09-21BB- (Stable)2003-08-06B-2001-08-02B
2000-04-27BB-2003-03-25B-2001-04-02B
2000-04-10B+ (Positive)2002-02-05B2001-02-22B
1996-12-20B+2001-08-02B-2000-09-21B2020-02-21B
1996-07-29BB- (Negative)2001-04-02B2000-04-27B2019-11-01B
1995-10-26BB-2001-02-22B+2000-04-10B2019-07-12B
1995-09-26BB-2000-09-21BB1996-12-20B2019-05-03B
1994-08-10B2000-04-27BB1996-07-29B2018-12-14B
0000-00-00B+ (Positive)0000-00-00B+1995-10-26B2018-07-13B
Fitch: Long term Rating

GradeMoody'sS&PFitch
PrimeAaaAAAAAA
High gradeAa1AA+AA+
Aa2AAAA
Aa3AA-AA-
Upper medium gradeA1A+A+
A2AA
A3A-A-
Lower medium gradeBaa1BBB+BBB+
Baa2BBBBBB
Baa3BBB-BBB-
Non-investment grade
speculative
Ba1BB+BB+
Ba2BBBB
Ba3BB-BB-
Highly speculativeB1B+B+
B2BB
B3B-B-
Substantial risksCaa1CCC+CCC+
Caa2CCCCCC
Caa3CCC-CCC-
Extremely speculativeCaCCCC
C
In default with little
prospect for recovery
SDRD
In defaultCDD
DD
DDD
Not ratedWRNR
GradeMoodysS&PFitch
High gradeP-1A-1+F1+
Upper medium gradeP-1A-1F1
Lower medium gradeP-2A-2F2
Non-investment grade
speculative
P-3A-3F3
Highly speculativeBB
Extremely speculativeNPCC