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4-Traders Homepage  >  Equities  >  Nyse  >  Moody's Corporation    MCO

Delayed Quote. Delayed  - 09/27 07:00:51 pm
109.59 USD   +0.55%
06:22p TURKEY HAS INVE : Japan Credit Rating
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Turkey has investment grade status: Japan Credit Rating

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09/27/2016 | 06:22pm CEST

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ANKARA

Turkey still retains the status of investment grade country even after Moody's recent rating cut, Eurasia administrative council director of Japan Credit Rating Agency (JCR), Orhan Okmen, told Anadolu Agency on Tuesday.

Credit ratings agency Moody's recent decision saw Turkey's rating downgraded to non-investment grade.

Okmen said that for the great majority of pension funds to be able to invest in a country's economy, investment grade status needed to be confirmed by at least two international rating agencies, regardless of recognition.

"Those credit agencies being renowned more or less is not a criterion. The basic criterion is being a 'Nationally Recognized Statistical Rating Organizations [NRSRO]'," Okmen said.

Of the 10 Nationally Recognized Statistical Rating Organizations currently recognized by the Securities and Exchange Commission (SEC) in the U.S., two have Turkey's sovereign credit rating as investment grade, according to Okmen.

"One of those agencies is Fitch and the other is JCR. Thereby, Turkey still retains its investment grade position," he said.

Okmen also added that foreign exchange liquidity in Turkey was resilient and sufficient in case of possible shocks .

"[There is] no problem in the ease of access to funds, public debt and the interest burden are at very reasonable levels. Therefore, in terms of financial stability Turkey is [...] in place," he added.

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(c) 2016 Andolu Ajansi Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2016 3 539 M
EBIT 2016 1 450 M
Net income 2016 890 M
Debt 2016 1 884 M
Yield 2016 1,33%
P/E ratio 2016 23,91
P/E ratio 2017 21,41
EV / Sales 2016 6,45x
EV / Sales 2017 6,09x
Capitalization 20 959 M
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 109 $
Spread / Average Target 0,10%
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NameTitle
Raymond W. McDaniel President, Chief Executive Officer & Director
Henry A. McKinnell Chairman
Linda S. Huber Chief Financial Officer & Executive Vice President
Tony Stoupas Chief Information Officer & Senior Vice President
Basil L. Anderson Independent Director
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