Aug 12 (Reuters) – Ratings agency Moody’s on Friday lowered Turkey’s sovereign credit rating by one notch to “B3” from “B2”, citing rising balance of payment pressures and risks of further declines in the country’s foreign-currency reserves.
Moodys downgraded Turkey again last night to B3. Deep into junk territory. Those who know me know I have argued for better ratings for Turkey in the past but it is hard to argue against this now. 1/
— Timothy Ash (@tashecon) August 13, 2022
Discover more from Erkan's Field Diary
Subscribe to get the latest posts sent to your email.