SYDNEY, June 20 Moody's Investors Service on
Wednesday raised Turkey's government bond ratings by one notch
to Ba1 from Ba2, and maintained its positive outlook on the
The agency cited a significant improvement in Turkey's
public finances and the resulting increased shock-absorption
capacity of the government's balance sheet.
It also noted policy actions that have the potential to
address external imbalances, such as the large current account
deficit, which is the largest credit risk facing the country.
"Looking ahead, an upgrade to an investment-grade rating
will probably be dependent on Turkey becoming more resilient to
balance-of-payment shocks, given the already favourable
public-finance metrics," Moody's said in a statement.