International Credit Rating Agencies Statement on Fund Investigation
International credit rating agencies Fitch and S&P evaluated the effects of the ongoing investigation in capital markets on the Turkish economy.
While new arrests have been made in the fund investigation conducted by the Istanbul Chief Public Prosecutor's Office, international credit rating agencies Fitch and S&P evaluated the potential impacts of the events on the economy.
Latest Status of the Investigation
The judicial process regarding developments in capital markets continues comprehensively.
New Arrests
In the fund investigation conducted by the Terrorism Financing and Laundering Investigation Bureau of the Istanbul Chief Public Prosecutor's Office, 20 more suspects were arrested.
Number of Detainees Increased
Following the latest arrest procedures, the total number of detainees in the investigation file rose to 85.
Fitch Evaluation
Fitch Senior Director Douglas Winslow stated that they evaluate the events as a negative development.
Systemic Risk Expectation
Winslow noted that no systemic risk or dollarization pressure has emerged due to the fund investigations, and no risk to the financial system is expected.
S&P Statements
S&P Global Ratings Turkey analyst Karen Vartapetov stated that if the developments remain isolated, they will not create pressure on the credit rating.
Regulatory Measures
Vartapetov expressed that the regulatory measures taken by authorities and the policy response were rapid and convincing.
Financial Outlook
It was emphasized in the evaluations that no significant negativity is observed in areas such as exchange rates and banking liquidity.