MADRID (Standard & Poor’s) Sept. 28, 2015–For all the similarities theyshare, Turkey and Indonesia are heading in opposite directions in terms ofcreditworthiness, chiefly because of policy trends and differences in theirexternal policies, said Standard & Poor’s Ratings Services in a report published today, “Turkey And Indonesia: Heading Opposite Ways.”
“Although both sovereigns are vulnerable to shifts in global liquidity and investor sentiment, Turkey’s much weaker external profile makes it more susceptible to an accelerated redirection of capital flows from emerging
economies to advanced ones,” said Standard & Poor’s credit analyst Aarti Sakhuja.
We have ‘BB+’ long-term foreign currency ratings on both Turkey and Indonesia. However, we revised our outlook on the long-term rating on Turkey to negative from stable in early 2014 and that on Indonesia to positive from stable in May
Indonesia is one of only two rated major emerging market sovereigns now carrying a positive outlook–the other is Poland.