Turkey: Moody’s B1 can do one, say frustrated investors

Turkey icon 230px
By Mike Turner
17 Jun 2019

Moody’s took the axe to Turkey’s credit rating after market close on Friday, cutting the sovereign’s rating from Ba3 to B1 in a move that has raised hackles from some international investors.

The erosion of the strength of country's institutions and and ineffective policies were “increasingly outweighing Turkey’s traditional credit strengths”, said the ratings agency in a note.

Moody’s has kept Turkey on a negative outlook, meaning more credit rating cuts could be on the horizon.

While Turkey’s government has made a ...

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