20
Aug
14:57
Credit rating agencies downgrade Turkey on economic distress
Two major credit rating agencies have downgraded their ratings for Turkey due to the country’s increasing financial stress and policymakers’ perceived inadequate response.
Moody’s has downgraded Turkey’s long-term issuer ratings to Ba3 from Ba2 and changed its rating outlook to negative, concluding the review for downgrade that was initiated on 1 June. The key driver was "...the continuing weakening of Turkey's public institution…
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