Turkey's rating not in danger for now: S&P Global

LONDON: Turkey's credit rating is not currently at risk of a downgrade though a further fall in lira would be "very, very bad news" for the country's companies and banks, S&P Global said on Thursday.

"Further lira for the weakness going forward would be very, very bad news for corporates and therefore the banks," Frank Gill, S&P's top EMEA sovereign analyst, said on a webcast.

More lira woes would ultimately lead to more firms having problems paying back loans, he added, also saying that Turkey's official estimates of bad loans currently did not count all the problem loans in the system.