Ankara's credit score, which affects how much the government pays to borrow on capital markets, has been in decline for years due to repeated episodes of unorthodox policy-driven crises.
"The change of course is clearly credit positive," Moody's analyst Dietmar Hornung told Reuters.
Moody's rates Turkey a 'junk' grade B3 with a "stable outlook".
"We need a track record of more orthodox policy and a reduction of the accumulated imbalances."
Reporting by Marc Jones Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.
Persons:
Moody's, Tayyip Erdogan's, Erdogan, Dietmar Hornung, Fitch, Hornung, Marc Jones, Alexandra Hudson
Organizations:
Moody's Corporation, Reuters, P Global, Alexandra Hudson Our, Thomson
Locations:
Manhattan , New York, U.S, Turkey