Moody’s places Turkey’s debt ratings on review for downgrade

Moody’s Investors Service placed Turkey’s Baa3 issuer and bond ratings on review for downgrade, citing the need to assess the medium-term impact of the failed military coup on the country’s economic growth, policymaking institutions and external buffers.

Moody’s said the failed coup has the potential to significantly affect Turkey’s growth trajectory negatively. (http://bit.ly/29PvG6j)

The rating agency lowered Turkey’s growth forecast to 3 percent.

source: Reuters