Fitch decision to retain Turkey rating is 'phenomenal,' Deputy PM says

[August 20, 2016]  ISTANBUL (Reuters) - Turkish Deputy Prime Minister Mehmet Simsek on Saturday said rating agency Fitch's decision to keep Turkey credit rating at BBB- was "phenomenal" in the aftermath of July's coup attempt.

Turkish Deputy Prime Minister Mehmet Simsek poses during an interview with Reuters in Ankara, Turkey, December 23, 2015. REUTERS/Umit Bektas/File Photo
 

"Given what Turkey has gone through recently the change in outlook is not a hugely surprising thing, but retaining the rating is phenomenal and suggests Turkey's fundamentals are strong," Simsek told reporters in Istanbul.

Simsek said downward risks on growth have increased following the events in the third quarter, when the coup attempt took place. He added he believed there would be revisions to the medium-term program in the end of September or early October.

(Reporting by Humeyra Pamuk, writing by Dasha Afanasieva; Editing by David Dolan)

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