Moody’s Investors Service downgrades 13 Turkish banks

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Moody’s Investors Service downgraded 13 Turkish banks , just days after downgrading the Turkish economy’s credit rating.

The outlooks on the long-term deposit and debt ratings of all the Turkish banks rated by Moody’s remain negative, in line with the negative outlook on the sovereign rating. The negative outlooks reflect the downside risks associated with a balance of payments crisis, which could lead to capital controls and restrictions on foreign currency outflows.

Moody’s has maintained the Macro Profile it assigns to Turkey at Very Weak+.

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Moody’s Investors Service downgrades 13 Turkish banks


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Article Tags: moody, investors, service, downgrades, turkish, banks,