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Moody's to review Turkey's credit rating for downgrade

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Staff Writer | June 2, 2018
Rating   Turkey is in a vulnerable external position

Credit ratings agency Moody’s announced Friday that it would review Turkey’s credit rating to decide if it should be downgraded.

In a written statement, Moody’s said its “decision to place the current [Ba2] rating under review reflects mounting uncerta

nty regarding the future direction of macroeconomic policy”.

The statement said Turkey’s “already vulnerable external position” will “raise the risk of severe pressures on Turkey's balance of payments to a level that is no longer consistent with the current rating”.

Moody's on March 8 downgraded Turkey's sovereign rating to 'Ba2' from 'Ba1' and changed its outlook to "stable" from "negative".

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