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Turkey criticizes downgraded credit rating

Turkey blames its long-standing quarrel with credit rating agencies on hasty misperceptions of its political stability.
A Moody's sign is displayed on 7 World Trade Center, the company's corporate headquarters in New York, February 6, 2013. REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS) - RTR3DFKX
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Turkey has a long history of bickering with credit rating agencies, just like a student squabbling over grades with the teacher. So much so that even when ratings go up, government officials will grumble, “We deserve better.”

Turkey’s 22-year bickering with Moody’s has been especially bitter. The agency has even earned itself a nickname in Turkey — schoolboy lingo for a miserly teacher that translates roughly as “professor who always hands out zeros.”

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