12.05.2012 - 01:30 [ Trend ]

Turkish PM says rating agencies make decisions based on rumors

Speaking to participants at the seventh meeting of the Investment Advisory Council for Turkey (YDK) at the Prime Ministry‘s Dolmabahçe office in İstanbul, Erdoğan went on to criticize S&P for its decision to change its outlook on Turkey from positive to stable, saying the credit rating agency did not even visit Turkey prior to making the revision. „Credit rating agencies are either not visiting Turkey or issuing their ratings based on rumors. We‘ll continue on our way, without paying any attention to these unfair rating decisions,“ Erdoğan said.