Moody's Puts Turkish Bond Rating on Review for Downgrade After Failed Coup

© AFP 2023 / Emmanuel DunandMoody's
Moody's - Sputnik International
Moody’s Investors Service placed Turkey’s long-term issuer, senior unsecured bond ratings and senior unsecured shelf rating on review for downgrade after the failed military coup in that country on Friday.

WASHINGTON (Sputnik) — Late on Friday, the Turkish authorities said that an attempted coup was taking place in the country. The coup attempt was suppressed by early Saturday, with Turkish Prime Minister Binali Yildirim stating that all coup supporters had been identified and would be apprehended as the country was returning to normal. Nearly 6,000 people have already been detained.    

"The review is driven by the need to assess the medium-term impact of the failed military coup on Turkey's economic growth, policymaking institutions and external buffers, given the existing challenges in all of these areas," Moody’s stated.

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