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Sunday, 25 September 2016

Turkey cut to junk as Moody’s concludes its post-coup review | GulfNews.com

Turkey cut to junk as Moody’s concludes its post-coup review | GulfNews.com:

"Turkey’s sovereign credit rating was cut to junk by Moody’s Investor Service, which concluded a review initiated after an unsuccessful coup attempt on July 15.
Moody’s cited rising risks related to Turkey’s external financing needs and a weakening in credit fundamentals as economic growth slows. The rating was cut to Ba1 from Baa3, leaving Fitch Ratings as the only major ratings company to keep Turkey at investment grade.
Erdogan Doesn’t Care at All If Turkey Gets Downgraded to Junk
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