Turkey's credit profile balances resilient growth, Moody's says

International credit rating agency Moody's said Friday that Turkey's credit profile balances resilient growth and relatively strong public finances against political risk and external vulnerability​.

The credit rating agency said that Turkey's​ key credit challenges include political risk and high external vulnerability, adding that fiscal outcomes would likely be challenged in the environment of rising global interest rates, already wider spreads and larger borrowing needs.

Moody's also said that although Turkey's public finances deteriorated marginally over the past year, a resilient economic growth and manageable government debt provided key credit anchors.

Moody's previously upgraded its year-end growth forecast for Turkey in 2017 from 2.6 percent to 3.7 percent.