Turkey gets sovereign debt, currency upgrades


Turkey received a raft of upgrades from Fitch, a ratings agency, on Thursday. Fitch raised the country's sovereign debt rating two notches, from BB- to BB+, and hiked its long-term currency rating up a mark, from BB to BB+.

The upgrades raise the assessment of both sovereign debt and the lira to just outside investment grade. By Fitch standards, the lowest long-term investment grade (‘lower medium grade') is BBB-.

"The upgrade reflects Turkey's relative resilience to the severe stress test of th

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