March 27, 2013 / 5:41 PM / 5 years ago

Standard & Poor's raises Turkey's sovereign rating

NEW YORK, March 27 (Reuters) - Rating agency Standard & Poor’s on Wednesday raised Turkey’s sovereign credit rating to BB-plus from BB, just a hair below investment grade, on a rebalancing economy and progress on Kurdish issues.

“The Turkish economy appears to be slowly rebalancing, without undermining its relatively strong fiscal performance,” S&P said in a statement.

The outlook for the rating is stable.

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