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Main » 2016 » July » 19 » Turkey could lose investment grade rating
11:27
Turkey could lose investment grade rating

 

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Moody's warned of a possible downgrade Turkey's rating, which is currently one notch above speculative grade. According to the agency, aggravated political problems, increased credit risk and increasing external vulnerability may cause a slowdown in the outflow of capital and the Turkish economy. At the same time, Turkey has recently demonstrated some of the best performance among the emerging markets. GDP increased in 2015 by 4.5%, while the stock market has increased this year, with the exception of Monday, more than 15%, ahead of other major emerging markets.

 

 

As a result of the failure of the military coup seriously deteriorated relations between Turkey and the United States. Perhaps, the Americans decided to use their "rating weapon." A similar situation was with regard to Russia in 2014, after the events in the Crimea and Eastern Ukraine. Decrease of the sovereign rating, especially its transition into the waste category, automatically increases the cost of sovereign and corporate loans. This decision is also a powerful "bear" factor for the Turkish stock market and currency. However, the Turkish president is likely to go to the end, making a bet on cooperation with Russia, Azerbaijan, Kazakhstan and the BRICS countries. The situation is simply left him no choice.

 

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