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Moody’s Investors Service downgraded Turkey’s sovereign rating by one notch to B3 with a stable outlook.
Currently, Fitch Ratings rates Turkey at B/Negative, five notches below investment grade. Moody’s Rating Services rates Turkey at B3/Stable, six notches below investment grade, while Standard & Poor’s has Turkey at B+/Negative, four notches below investment grade.
More downgrades are on the way.
Dollarisation in Turkey is running at record-breaking levels.
TSKB concluded the spring season for Turkish banks’ syndicated loan renewals.
5 TURKEY Country Report September 2022 www.intellinews.com
