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International credit rating agency S&P Global did not issue an update on Türkiye’s credit rating or outlook, the agency said Friday.
In a statement, S&P announced that no revisions were made for Türkiye, the Netherlands, or Togo, despite all three being listed for review on Oct. 17. The agency noted that it had conducted a semiannual review but decided to maintain current ratings for all three countries.
S&P currently assigns Türkiye a long-term credit rating of “BB-” with a “stable” outlook.
According to the agency, the publication of a review date on its annual calendar “does not necessarily mean” a change in rating or outlook will occur on that date.
Meanwhile, S&P Global Commodity Insights announced it will open an office in Istanbul on Nov. 1, marking a significant expansion of its regional operations, the company told Türkiye Today on Thursday.
A division of S&P Global (NYSE: SPGI), the company is one of the world’s leading independent providers of commodity market intelligence, analytics, and benchmark pricing across energy and industrial sectors.
The new Istanbul office—located at Maslak Orijin Plaza—will strengthen S&P Global Commodity Insights’ long-standing presence across Europe, the Middle East, Africa, and Central Asia, where it already operates nearly twenty offices.
Istanbul’s strategic location played a key role in the company’s decision. As one of Europe’s largest cities and the only metropolis straddling two continents, it sits along the Bosphorus Strait, one of the world’s busiest waterways and a vital artery for global trade.
The Bosphorus connects the Black Sea to the Sea of Marmara and serves as a crucial passage for crude oil and grain exports from the Caspian and Middle Eastern regions, as well as a key entry route for recycled steel shipments into Türkiye.
The expansion underscores both Türkiye’s growing importance in global energy markets and Istanbul’s position as a regional hub for trade and finance.
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