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Turkey’s Sovereign-Debt Rating Cut Further Into Junk by Fitch

A Turkish flag by the Bosphorus strait in Istanbul, Turkey.

A Turkish flag by the Bosphorus strait in Istanbul, Turkey.

Photographer: Moe Zoyari/Bloomberg

Fitch Ratings cut Turkey’s sovereign credit rating further into junk, citing factors including the nation’s vulnerability to high inflation.

Fitch lowered Turkey’s score to B+ from BB-, making it four notches below investment grade and on par with Egypt and Bahrain. The outlook for Turkey is negative, the rating company said.