The anti-government protests in Türkiye

The anti-government protests in Türkiye are not a threat to the sovereign’s ‘BBB-’ rating at present, Fitch Ratings said today by a press statement. “The level of unrest is well within the tolerance of political stability embedded in the current rating, and the economic impact so far is minor,” the agency said, adding that low political stability and, in particular, low World Bank voice accountability indicators (the latter falling well short of the ‘BBB’ median) have long been a feature of Türkiye’s sovereign credit profile and are already considered weaknesses in their rating assessment.