Turkey's banking chief warns on country's credit rating

"No matter what economic and social programs indicate, I think management that would move Turkey toward (an investment) grade would be successful," Ersin Ozince told Referans business daily in an interview.

Turkey's credit rating remains at BB+ at Standard & Poor's and Fitch, while Ba3 at Moody's, two notches below the investment grade. The outlooks on the ratings are stable.

Both before and after the closure case filed against the ruling Justice and Development Party (AKP), the rating of Turkey by three institutions stayed at a "non-investment grade" level, said Ozince, who is also the managing director of Isbank, one of Turkey's leading banks.