forecast Fitch rated Turkey lowered from stable to negative. July 22 downgraded the country to BBB due to military coup
Fitch international rating agency has downgraded Turkey’s rating to BBB- from stable to negative. This is stated in a press release agency.
In particular, the Agency indicated that a failed military coup in Turkey “has increased the risks to political stability.” In addition, it is noted, and the deterioration of security conditions “outside the context associated with the revolt”, referring to the terrorist attacks in Istanbul and Ankara.
Political uncertainty, “is expected to affect the economic performance and threatens economic policy” , noted Fitch.
Fitch changed the credit rating of Turkey, exceeding the “trash” at one position on July 22 shortly after the military coup in that country. Then, the agency downgraded the long-term commitments of the country with the BBB level to BBB- with a stable outlook
Also, the credit rating of Turkey after the rebellion downgraded S & amp;. P from BB + to BB c negative outlook, and the long and short term Turkey’s sovereign ratings lira – to BB + / B to BBB- / a-3, respectively. The agency said that the coup attempt “has increased the polarization of the political landscape in Turkey, has seriously disrupted the system of institutional checks and balances»
The third rating agency -. Moody’s placed the rating on July 18 to review Turkey. August 6, it reported that it would continue the review and expects to complete the review within 90 days from 18 July.
The attempt of military coup in Turkey occurred on the night of July 16. During clashes between the putschists and the supporters of the current government killed more than 240 people. After the suppression of the rebellion scale cleansing started in state agencies. In Turkey have been dismissed or suspended from work more than 81 thousand people, and detained -. Almost 26 thousand people..
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