Turkey believes that the assessment of rating agencies impartial. This was stated by Prime Minister Binali Yildirim, reports Reuters. Previously, Moody’s downgraded the credit rating of Turkey to “junk”.
“We do not believe that these estimates are very impartial. We believe that they are trying to create a certain perception of the Turkish economy”, — he stressed.
Earlier Moody’s downgraded Turkey’s sovereign rating to “junk” level of Ba1 with a stable Outlook. The Agency has named two main factors that led to the downgrade is the increased risk associated with the need to increase foreign borrowing, as well as the weakening of indicators such as economic growth and stability of institutions.
The revision of Turkey’s rating, which was then located at Baa3, the Agency announced in July this year after trying in this country a military coup. The coup occurred on the night of July 16, several army units unsuccessfully attempted to seize power.
Downgraded Turkey’s and other rating agencies. July 20, S&P downgraded the rating of Turkey from BB+ to BB with a negative Outlook and the long-term and short-term sovereign ratings of Turkey in Lira — to BB+/B from BBB-/A-3, respectively. Two days later, Fitch downgraded the rating of long-term liabilities of the country from BBB to BBB – with a stable Outlook, and a month — 19th August — has changed the Outlook to negative.