S&P upgrade belated but encouraging - Turkish finmin

Reuters Middle East

ISTANBUL, March 27 (Reuters) - Standard & Poor's upgrade of Turkey's sovereign credit rating is belated and still does not reflect the country's current economic outlook, Finance Minister Mehmet Simsek said on Wednesday, but he said the upgrade was encouraging. Standard & Poor's raised Turkey's sovereign credit rating to BB-plus from BB on Wednesday, just a hair below investment grade, amid a rebalancing economy and progress on Kurdish issues.  (Writing by Ece Toksabay)