Turkish stocks open flat ahead of credit rating review

ANKARA (AA) - Turkish stocks on Friday opened little-changed as the markets are primarily focused on the imminent release of Fitch’s sovereign credit rating review for the country, a review generally expected to maintain its credit rating and outlook on Turkey.

Borsa Istanbul's BIST-100, the country’s benchmark index, was up 0.04 percent (33.01 points) to reach 78,003.94 at the opening of the daily session Friday after declining slightly 0.2 percent Thursday.

For Fitch's anticipated rating announcement on Friday, it is expected to maintain its credit rating and outlook on Turkey. It also expected to be delivered after the market close.

Fitch’s in February confirmed Turkey's long-term foreign and local currency issuer ratings as “BBB-” and “BBB” respectively, with a stable outlook.

The Turkish lira on Friday started to exchange over 2.93 against the U.S. dollar, down from 2.9240 on Thursday.