Fitch changed the rating Outlook of Turkey to negative


International rating Agency Fitch downgraded Turkey’s rating to BBB – from stable to negative. This is stated in a press release from the Agency.

In particular, the Agency indicated that the failed military coup in Turkey increased risks for political stability.” In addition, it noted the deterioration of security conditions “outside the context associated with the insurgency”, referring to the terrorist attacks in Istanbul and Ankara.

Political uncertainty, “expected to affect economic performance and threatens the economic policy,” Fitch said.

Fitch revised the credit rating of Turkey in excess of “junk”, one position on 22 July, shortly after the military coup in that country. Then the Agency lowered the rating of long-term liabilities of the country from BBB to BBB – with a stable Outlook.

Also the credit rating of Turkey after the mutiny downgraded S&P from BB+ to BB c a negative Outlook and the long-term and short-term sovereign ratings of Turkey in Lira — to BB+/B from BBB-/A-3, respectively. The Agency said the coup attempt “reinforced the polarization of the political landscape of Turkey, the even more serious violation of the system of institutional checks and balances.

The third rating Agency — Moody’s — July 18, has placed the rating of Turkey for reconsideration. On 6 August it announced that it would continue the review and plans to complete the review within 90 days from 18 July.

Attempt a military coup in Turkey occurred on the night of 16 July. During clashes between the coup and the supporters of the current government killed more than 240 people. After the suppression of the rebellion in the state agencies began a large-scale cleaning. Turkey has been dismissed or suspended from work more than 81 thousand people, and detained — almost 26 thousand people.

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