MOSCOW (Sputnik) – Moody’s announced the review of Turkey’s Baa3 long-term debt rating on July 18, 2016. According to the rating agency, the review should be concluded within 90 days of the date of the announcement.
"Although the military coup in Turkey on 15 July 2016 failed, events are still unfolding so Moody's will continue to assess the medium-term impact of the failed coup and its aftermath on: Turkey's policymaking institutions and business climate; its external buffers to absorb potential shocks, such as the impaired investor sentiment on which Turkey is very reliant; and ultimately its growth prospects," Moody’s said on Friday.
On July 15, an attempted coup took place in Turkey that was suppressed the following day. Over 240 people were killed during the coup attempt and an estimated 2,000 were wounded. Ankara has accused US-based dissident Muslim cleric Fethullah Gulen and his followers of playing a key role in the coup.