Turkey criticizes downgraded credit rating
Turkey blames its long-standing quarrel with credit rating agencies on hasty misperceptions of its political stability.
Turkey has a long history of bickering with credit rating agencies, just like a student squabbling over grades with the teacher. So much so that even when ratings go up, government officials will grumble, “We deserve better.”
Turkey’s 22-year bickering with Moody’s has been especially bitter. The agency has even earned itself a nickname in Turkey — schoolboy lingo for a miserly teacher that translates roughly as “professor who always hands out zeros.”
