Turkey Upgraded by Moody’s to Ba3 on Improved Policymaking

Turkey got a credit-rating upgrade from Moody’s in a boost to policymakers. The nation’s rating was raised Friday to Ba3 from B1, still three notches below investment grade, with a stable outlook.

Moody’s cited central bank policy “that durably eases inflationary pressures, reduces economic imbalances, and gradually restores local depositor and foreign investor confidence in the Turkish lira.”