Fitch Ratings' decision to award Turkey investment grade credit status, after an 18-year gap, sent a strong message to global investors earlier this month.
The move was heralded as long overdue and a step in the right direction to opening Turkey up further to the international community. Turkey needs Moody’s and S&P to follow suit if it is to join investment grade benchmarks, but Fitch has undoubtedly got the ball rolling. Turkey is a country sitting relatively comfortably between many worlds. It encompasses the old and the new, European and Asia cultures, as well as being in transition from an emerging to developed world economy. There are also major plans afoot to boost its profile as a regional business hub. But how quickly can invest...
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