Fitch

Excluding Greek bonds from any European Central Bank quantitative easing program would be bad news for the country's recently upgraded credit rating, the main ratings agencies said.

A long-awaited decision on the markets by the international rating agency Fitch was made public on Friday

Turkish markets are breathing a sigh of relief, after international credit ratings agency Fitch affirmed Turkey’s investment-grade ratings despite previous worries over a downgrade.

The international credit ratings agency Moody’s said in statement released on Aug. 15 that the election of Prime Minister Recep Tayyip Erdoğan as president “is unlikely to resolve Turkey’s key economic and institutional credit challenges because of ongoing domestic political tension and uncertainty that will prevail at least through the next parliamentary elections.”

Risks threatening the wealth of the Turkish economy have been under the scrutiny of international ratings agencies amid

Turkish lender İşbank posted a second-quarter net profit of 829.4 million Turkish Liras ($381.35 million), less than Reuters’ forecast of 897 million liras, the company said in a filing to the stock exchange late Aug. 8. The bank’s profits fell by 5.5 percent from 877.5 million liras in the second quarter of 2013.

Argentina blames the United States for the legal battle that forced it to miss a debt payment and, despite ratings agencies’ declarations to the contrary, denied being in default.

Greece seems to be on its way out of the recession after international agency Fitch raised its rating for the country to B from B- with a stable outlook.

Another agency, Standard&Poor's made on Friday a similar move for Spain, another Southern European country severely affected by the debt crisis. Madrid's debt rating is now BBB, up from BBB-, which was just above junk status.