Moody’s downgrades Turkey credit rating to ‘junk’

‘Moody’s rating agency has cut Turkey’s credit rating by one notch to “junk” level, saying the country’s finances have strained amid increased political turmoil, a further blow to an economy already battered by numerous terrorist attacks and a recent botched coup.
“Moody’s Investors Service has today downgraded the government of Turkey’s long-term issuer and senior unsecured bond ratings to Ba1 from Baa3,” said a statement from the leading credit ratings agency on Friday, adding that the country “continues to operate in a fragile financial and geopolitical environment.”’
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