Turkey kept its investment grade credit ranking at Fitch Ratings, while the outlook was cut to negative from stable, as a failed coup attempt last month increased the political risks in the country.
Fitch rates Turkey BBB-, the lowest investment grade. It said the outlook is dimmed as growth may slow amid the political turmoil. The rating is in line with Moody’s Investors Service, which has placed it on review for a possible downgrade while it assesses the impact of the military takeover attempt. S&P Global Ratings lowered Turkey one level to BB, two steps below investment grade, on July 20.
