On Sept. 17, The Wall Street Journal carried a story titled “Turkey Fires a Salvo at Rating Agencies. Again.”
“Turkey’s love affair with credit-rating firms is proving short-lived, with officials slamming companies that in the last two years elevated the country to investment-grade status,” was the introductory sentence. That was about the harsh criticism of Turkey’s new president, Recep Tayyip Erdogan, toward the influential New York-based credit-rating companies, Moody’s and Fitch Ratings.
