Turkey's CDS premium falls to that level after 3 years

Turkey's 5-year credit default swap (CDS) premium has fallen below 282 basis points for the first time since February 2021, dropping to 281.75 points.

Analysts emphasized that with the ongoing decline in Turkey's CDS, international credit rating agencies have also implemented upgrades to Turkey's credit rating and changes to its credit rating outlook.

On the other hand, international credit rating agency S&P upgraded Turkey's credit rating from "B" to "B+" on May 4, while maintaining its credit rating outlook as "positive".