Turkey: Moody's rates AK Party victory good for economy:

LONDON

The decisive victory of the Justice and Development (AK) Party in the Oct. 1 parliamentary elections will be a positive development for the Turkish economy, credit agency Moody’s said in a note on Monday.

Moody’s said that the victory of AK party, which enables it to form a government on its own, would reduce the political uncertainty for the near term, and that has been a major obstacle to economic development in the country since the last elections, the note said.

The country's credit quality will be dependent on the government’s economic policy strategy, and on how the government seeks to resolve challenges such as increasing growth and reducing inflation, Moody’s said.