REPEAT - The 2025 Turkey Calendar of Credit Rating Agencies Established; 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 published its schedule for the credit rating outlook report for countries for the year 2025. According to the schedule, Moody's' first report date for Turkey is announced as January 24, 2025, and the second report date is July 25, 2025. Turkey is the first country that Moody's is expected 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. Fitch's first date for Turkey is set for January 31, 2025, and the second date is July 25, 2025. Moody's last upgraded Turkey's credit rating from "B3" to "B1" on July 19, while maintaining a "positive" outlook, whereas Fitch upgraded Turkey's credit rating from "B+" to "BB-" on September 9, revising the 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 have been set for Turkey. Accordingly, S&P Global will announce its possible reports for Turkey on April 25, 2025, and October 17, 2025. S&P Global last upgraded Turkey's credit rating from "B+" to "BB-" on November 1, revising the outlook from "positive" to "stable."
-CI and Scope Also Released Schedules- Other credit rating agencies that released 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 also upgraded Turkey's rating. CI upgraded the rating from "B" to "BB-" on November 15, while revising the outlook from "positive" to "stable." Scope, which announced the last decision of 2024, upgraded the rating from "B" to "BB-" on December 6, revising the outlook from "positive" to "stable."
Credit rating agencies are not obligated to release a report on the announced dates. However, Fitch generally publishes reports on those dates, while S&P Global, Moody's, and Scope may skip the specified dates. Turkey's credit rating schedule for 2025 is as follows:
- January 24, 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 14, 2025: CI