First comment from Minister Şimşek on Fitch's decision on Turkey: We are the only country to achieve this by 2024.

Treasury and Finance Minister Mehmet Şimşek commented on Fitch's upgrade of Turkey's credit rating.

Minister Şimşek stated in his X account that international credit rating agency Fitch has raised Turkey's credit rating from B+ to BB-. Şimşek stated the following:

"OUR CREDIT RATING HAS BEEN UPGRADED FOR THE SECOND TIME THIS YEAR"

"International credit rating agency Fitch has upgraded our credit rating for the second time this year, from B+ to BB-. We are the only country to receive a credit rating upgrade from all three major credit rating agencies by strengthening our macro financial stability and resilience through our program.

With our Medium-Term Program announced this week, we will further enhance confidence in our economy by making the gains we have achieved in the past year permanent."

MOODY'S UPGRADED BY 2 NOTCHES

Meanwhile, another rating agency Moody's raised Turkey's credit rating by 2 notches from "B3" to "B1" in July and maintained a "positive" outlook for the credit rating. Rating agency S&P also upgraded Turkey's credit rating from B to B+ after the local elections in May.