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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
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Turkey Trouble Catches Moody's Ratings Attention

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.