S&P no longer has ratings deal with Turkish governmentJanuary 15, 2013 - 13:33 AMT PanARMENIAN.Net - Credit-rating agency Standard & Poor's said on Monday, Jan 14, that it no longer has a ratings deal with Turkey's government but it will still offer assessments on the fast-growing economy to meet market interest, Reuters reported. "We are converting our issuer credit ratings on Turkey to 'unsolicited' as we no longer have a rating agreement with this sovereign," S&P said in a statement. "We will nonetheless continue to rate Turkey on an unsolicited basis because we believe that we have access to sufficient public information of reliable quality to support our analysis .... and because we believe there is significant market interest in this unsolicited rating." It said that as of February 14 it was withdrawing all its ratings on individual Turkish debt. It will only be rating the sovereign's overall credit-worthiness. S&P rates Turkey at BB, two rungs below investment grade. Fitch has raised it to investment grade at BBB- and Moody's just below investment grade at Ba1. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Police try to impede Armenian Church head’s access to war memorial Police tried to stop the supreme head of the Armenian Apostolic Church, Catholicos Karekin II, from visiting a war memorial. Greece says ready to help as Armenia fights flooding consequences Greece is ready to assist Armenia in combatting the consequences of deadly floods in the country’s north. “He will leave”: Protest leader no longer demands meeting with Pashinyan Archbishop Bagrat Galstanyan no longer demands a meeting with Armenian Prime Minister Nikol Pashinyan. Lemkin Institute petition seeks release of Armenians in Azerbaijan The Lemkin Institute is deeply concerned about the continued illegal detention of political prisoners from Karabakh in Azerbaijan. |