Turkish Economy Minister hits out at ratings agency “manipulation”

Turkey’s Economy Minister Nihat Zeybekçi has criticised recent decisions by Fitch and Moody’s to put his country’s credit rating in question, economy-focused newspaper Dünya said.

“We see that Fitch and Moody’s have both issued statements about Turkey that are completely speculative and aimed at manipulation with the goal of supporting plots against Turkey,” Zeybekçi said.

“We know well our banks’ capital adequacy ratios and our capital-equity ratios. We have no concerns or problems on these issues. We do not find (the credit rating agencies’) assessments healthy.”

Zeybekçi added that he believed that these statements had no value during election time, and that he believed they would revise their forecasts after the elections.