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Four reasons why Russia is investment grade and Turkey is not

Four reasons why Russia is investment grade and Turkey is not

In Scope’s 2018 Public Finance Outlook, we identified an investment grade (IG) compared with a non-investment grade (non-IG) rating disparity between Russia (BBB-/Stable) and Turkey (BB+/Stable) as an important theme in 2018. In this special comment, Scope introduces four core arguments for this stronger view on Russia’s sovereign creditworthiness. In addition, we note two areas where Turkey’s credit profile has an advantage over Russia’s.