Credit Rating Agencies' Turkey Calendar for 2025 Has Been Set: Moody's and Fitch Expected in January
Forex - The international credit rating agency Moody's has set two credit rating review dates for Turkey in 2025. Following other agencies, Moody's has also published its schedule for the credit rating outlook report for countries in 2025. According to the schedule, Moody's has announced the first report date for Turkey as January 24, 2025, and the second report date as July 25, 2025. Turkey is the first country that Moody's is likely to evaluate in 2025. With Moody's announcement, the 2025 schedule for all credit rating agencies has been completed. According to the schedules, the first reports from Moody's and Fitch will be released one week apart, while the second report dates coincide on the same day. Fitch's first date for Turkey is set for January 31, 2025, and the second date is July 25, 2025. Moody's last updated Turkey's credit rating from "B3" to "B1" on July 19, while maintaining a "positive" outlook. Fitch raised Turkey's credit rating from "B+" to "BB-" on September 9, revising its outlook from "positive" to "stable."
-Two Reports Expected from S&P Global- According to S&P Global's "2025 EMEA Sovereign, Regional and Local Government Rating Publication Dates Calendar," two review dates for Turkey have been established. Accordingly, S&P Global is expected to announce its potential reports for Turkey on April 25, 2025, and October 17, 2025. S&P Global last raised Turkey's credit rating from "B+" to "BB-" on November 1, revising its outlook from "positive" to "stable."
-CI and Scope Also Released Schedules- Other credit rating agencies that announced their 2025 schedules include Capital Intelligence (CI) and Scope. CI will announce its report for Turkey on May 16, 2025, and November 14, 2025. The dates set by Scope for Turkey are May 30, 2025, and October 24, 2025. Like other agencies, CI and Scope last raised Turkey's rating. CI raised its rating from "B" to "BB-" on November 15, changing the outlook from "positive" to "stable." Scope, which announced the last decision for 2024, raised the rating from "B" to "BB-" on December 6, also revising the outlook from "positive" to "stable."
Credit rating agencies are not required to release a report on the announced dates. However, Fitch generally publishes reports on those dates, while other credit rating agencies such as S&P Global, Moody's, and Scope can skip the specified dates.
Turkey's credit rating schedule for 2025 is as follows: January 25, 2025 Moody's January 31, 2025 Fitch April 25, 2025 S&P Global May 16, 2025 CI May 30, 2025 Scope July 25, 2025 Fitch and Moody's October 17, 2025 S&P Global October 24, 2025 Scope November 15, 2025 CI