Turkey - Credit Rating

Standard & Poor's credit rating for Turkey stands at BB- with stable outlook. Moody's credit rating for Turkey was last set at Ba3 with stable outlook. DBRS' credit rating for Turkey was last reported at BB (high) with negative outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Turkey thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Turkey as reported by major credit rating agencies.

Agency	Rating	Outlook	Date
Moody's	Ba3	Stable	Jul 25 2025
S&P	BB-	Stable	Nov 01 2024
Moody's	B1	Positive	Jul 19 2024
S&P	B+	Positive	May 03 2024
Moody's	B3	Positive	Jan 12 2024
S&P	B	Positive	Nov 30 2023
S&P	B	Stable	Sep 29 2023
S&P	B	Negative	Mar 31 2023
S&P	B	Stable	Sep 30 2022
Moody's	B3	Stable	Aug 12 2022
S&P	B+	Negative	Dec 10 2021
Moody's	B2	Negative	Sep 11 2020
Moody's	B1	Negative	Jun 14 2019
Moody's	Ba3	Negative	Aug 17 2018
S&P	B+	Stable	Aug 17 2018
Moody's	Ba2	Under Review	Jun 01 2018
S&P	BB-	Stable	May 01 2018
Moody's	Ba2	Stable	Mar 07 2018
Moody's	Ba1	Negative	Mar 17 2017
S&P	BB	Negative	Jan 27 2017
S&P	BB	Stable	Nov 04 2016
Moody's	Ba1	Stable	Sep 23 2016
DBRS	BB (high)	Negative	Jul 21 2016
S&P	BB	Negative	Jul 20 2016
Moody's	Baa3	Negative Watch	Jul 18 2016
S&P	BB+	Stable	May 06 2016
Moody's	Baa3	Negative	Apr 11 2014
S&P	BB+	Negative	Feb 07 2014
DBRS	BBB (low)	Stable	May 23 2013
Moody's	Baa3	Stable	May 16 2013
S&P	BB+	Stable	Mar 27 2013
Moody's	Ba1	Positive	Jun 20 2012
S&P	BB	Stable	May 01 2012
Moody's	Ba2	Positive	Oct 05 2010
S&P	BB	Positive	Feb 19 2010
Moody's	Ba2	Stable	Jan 08 2010
Moody's	Ba3	Positive	Sep 18 2009
S&P	BB-	Stable	Sep 17 2009
S&P	BB-	Negative	Nov 13 2008
S&P	BB-	Stable	Jul 31 2008
S&P	BB-	Negative	Apr 03 2008
S&P	BB-	Stable	Jun 27 2006
S&P	BB-	Positive	Jan 23 2006
Moody's	Ba3	Stable	Dec 14 2005
Moody's	B1	Positive	Feb 11 2005
S&P	BB-	Stable	Aug 17 2004
S&P	B+	Positive	Mar 08 2004
Moody's	B1	Stable	Oct 21 2003
S&P	B+	Stable	Oct 16 2003
S&P	B	Stable	Jul 28 2003
S&P	B-	Stable	Nov 07 2002
Moody's	B1	Negative	Jul 10 2002
S&P	B-	Negative	Jul 09 2002
S&P	B-	Stable	Jun 26 2002
S&P	B-	Positive	Jan 29 2002
Moody's	B1	Stable	Jan 15 2002
S&P	B-	Stable	Nov 30 2001
S&P	B-	Negative	Jul 11 2001
S&P	B-	Stable	Apr 27 2001
S&P	B-	Negative Watch	Apr 17 2001
Moody's	B1	Negative	Apr 06 2001
S&P	B	Negative Watch	Feb 23 2001
Moody's	B1	Stable	Feb 21 2001
S&P	B+	Negative Watch	Feb 21 2001
S&P	B+	Stable	Dec 05 2000
Moody's	B1	Positive Watch	Jul 24 2000
S&P	B+	Positive	Apr 25 2000
S&P	B	Positive	Dec 10 1999
Moody's	B1	Positive	Nov 30 1999
S&P	B	Stable	Jan 21 1999
S&P	B	Positive	Aug 11 1998
Moody's	B1	Stable	Mar 13 1997
Moody's	Ba3	Negative Watch	Jan 09 1997
S&P	B	Stable	Dec 13 1996
S&P	B+	Negative Watch	Jul 17 1996
S&P	B+	Stable	Oct 18 1995
S&P	B+	Positive	Jul 24 1995
S&P	B+	Stable	Aug 16 1994
Moody's	Ba3	Stable	Jun 02 1994
S&P	B+	Negative Watch	Apr 29 1994
S&P	BB	Negative Watch	Mar 22 1994
S&P	BBB-	Negative	Jan 14 1994
Moody's	Ba1	Stable	Jan 13 1994
S&P	BBB	Negative	May 03 1993
Moody's	Baa3	Stable	May 05 1992
S&P	BBB	Stable	May 04 1992