Turkey Faces Junk Status as Moody’s Weighs Political Turmoil

  • Markets already pricing Turkish debt below investment grade
  • Downgrade could spur billions in outflows as funds divest
Photographer: Kerem Uzel/Bloomberg

Back in December, with Turkey teetering on the edge of losing its investment-grade rating, Moody’s Investors Service said only political stability and a commitment to a long-overdue economic reform program could pull the country back from the brink.

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