Abstract
This study examines the relationship between macroeconomic variables and country credit ratings determined by credit rating agencies. In this context, the credit ratings of the countries (Turkey, Brazil, Chile, Argentina, India, Indonesia, Russia, and S. Africa), which are called Fragile Sekizli, are ranked by Fitch, one of the three major credit rating agencies. At the same time, country credit ratings are used as a dependent variable, independent of macroeconomic factors affecting country credit ratings, such as GDP per capita, exports, inflation, unemployment, exchange rate, total reserves, ratio of trade to GDP and ratio of gross savings to GDP It is discussed. The factors affecting the country credit ratings were examined by panel data analysis on Fragile Eight, which is also included in Turkey. Country credit scores and macroeconomic variable figures between 2000 and 2015 were used in the study.
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