Turkey Put on Review for Downgrade by Moody’s After Coup Attempt
- Turkey was assigned investment grade rating by Moody’s in 2013
- Ratings firm says government has lagged on economic reforms
Turkey Trouble Catches Moody's Ratings Attention
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Turkey had its debt put on review for a downgrade by Moody’s Investors Service after President Recep Tayyip Erdogan thwarted a coup attempt that erupted over the weekend.
Moody’s will look at Turkey’s Baa3 credit rating, the lowest level of investment grade, to “assess the medium-term impact” of the failed coup on the country’s growth and policy-making institutions, according to a statement.