Fitch downgraded the rating outlook of Turkey and pointed to risks to stability – Rosbalt.RU

 International rating agency Fitch downgraded the outlook on Turkey’s long-term rating from “stable” to “negative” at “BBB -».

 One of the reasons for this decision was the failed attempt of coup d’etat in Turkey in July 2016, because of what the increased “risks to political stability”, according to “News Economy».

 The agency also noted that the country’s deteriorated security conditions “outside the context associated with the insurgency,” here we are talking about the terrorist attacks in Istanbul and Ankara. On economic performance will be adversely affected by the political uncertainty in the country, Fitch analysts said.

 July 22 after the attempted military coup in Turkey (the night of July 16), which ended in failure, Fitch’s changed the country’s credit rating by one position from the level «BBB» to «BBB-” with “stable” outlook.

 In addition, Turkey’s rating changed from another rating agency, “the big three» – S & amp; P: from «BB +» to «BB» c «negative” outlook. long-term (up to «BB +» to «BBB-») have also been changed, and short-term sovereign ratings (with «A-3″ to «B»). The S & amp; P considered that the failed coup strengthened the “polarization of the political landscape in Turkey, has seriously disrupted the system of institutional checks and balances»

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 The third largest international rating agency – Moody’s – also decided to revise the rating of Turkey, but has not yet decided on the new assessment. Review will be completed within 90 days from 18 July 2016, when the rating was put on review.