subject: Turkey Gets Credit Rating Upgrade from Standard & Poor's [print this page] Turkey Gets Credit Rating Upgrade from Standard & Poor's
Leading credit rating agency Standard & Poor's has given Turkey a rating upgrade amongst nearly 100 rating downgrades, reports property website House Sales Turkey (http://www.housesalesturkey.com/). Over the years, credit ratings have achieved wide investor acceptance as convenient tools for differentiating credit quality, with Standard & Poor's ratings regarded as the most reliable. Receiving a quality credit rating from Standard & Poor's demonstrates the financial stability of a country and the positive state of many of its industries, including in this case, property in Turkey.
Standard & Poor's has raised Turkey in the rankings having considered a variety of factors. The country has kept stable during a tumultuous financial climate around the world. Property sales in Turkey have also remained healthy during the crisis, where many other countries' real estate markets have suffered. Turkey's government has ensured that the country's debt level has decreased and that its financial sector has remained bullish, despite the external pressures which countries around the world including Turkey have faced in recent years. Standard & Poor's credit analyst states that "Turkey's banking system will be one of the strongest and least-leveraged in Eastern Europe." Standard & Poor's has also indicated that it will upgrade Turkey once again over the next one or two years if it continues to show steadiness in the global crisis.
When it comes to Turkish properties, the market has benefited from tight regulation, a close eye on over-supply, a sensible approach to the applicaton of licenses, and banks which are careful when it comes to granting loans to developers. The country's desire to enter the European Union is also thought to have had a positive affect on property in Turkey. Turkey is at pains to please the existing EU member states in order to be granted accession, which involves making improvements to its infrastructure, accessibility and investment in a bid to make the country more like a European democracy. All of this is good news both for people wanting to buy property in Turkey and sell property in Turkey as the country becomes a more attractive proposition in general.
For further information on the property in Turkey, go to http://www.housesalesturkey.com/.
