S&P downgrades Turkey’s credit rating

Friday, 22 July 2016 13:39:45 (GMT+3)   |   Istanbul
       

International credit rating agency S&P Global Ratings has announced that it has lowered its foreign and local currency sovereign credit ratings on Turkey to 'BB' and 'BB+', respectively, from 'BB+' and 'BBB-'.
 
S&P stated that the downgrade reflects its view that following the attempted coup on July 15 Turkey's political landscape has fragmented further and S&P believes this will undermine Turkey's investment environment, growth, and capital inflows into its externally leveraged economy.

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