Turkey Outlook Cut by S&P Citing ‘Hard Landing’ Risk
This article is for subscribers only.
Turkey’s credit rating outlook was cut to negative from stable by Standard & Poor’s, which said there’s a growing risk of a “hard economic landing” as reserves decline and policy makers spar over interest rates.
The lira reversed gains after the announcement late yesterday, falling 0.4 percent to 2.2195 per dollar at 11:30 p.m. in Istanbul.