Moody's will hold a press conference today at 17:00 to discuss 'Turkey at the cross-roads: Credit Dynamics of an Emerging Cross-Over Market.' Among the topics to be discussed is 'Shifting closer to an Investment grade sovereign rating.' Although this topic and the timing of the conference, which comes a few short months after Moody's held its annual conference on Turkey give the impression that the rating agency is preparing for an upgrade for Turkey, Moody's denied the upgrade reports and said that they are sticking with their previous view on Turkey. Moody's currently rates Turkey one notch below investment grade status with a positive outlook. Nevertheless, we expect an upgrade from Moody's in 1H13, similar to the market, which anticipates an upgrade sometime this year. Any comments Moody's makes today would allow us to reconsider our views. 
Source: bne