Translation from English

Saturday, September 24, 2016

News of Turkey- abc news

Play
Next Clip
Mute
00:00
Current Time 0:00
|
Duration Time 0:00
Loaded: 0%
Progress: 0%
00:00
Fullscreen
Share on Facebook
Settings

Moody's Downgrades Turkey's Credit Rating to 'Junk' Status

Moody's has downgraded Turkey's credit rating to "junk" status, a further blow to an economy shaken by terrorist attacks, a failed military coup and a diplomatic spat with Russia.
The rating agency on Friday lowered its rating on Turkey's debt one notch, stripping it of investment-grade status. The move could mean higher borrowing costs as investors demand steeper interest rates to take on riskier Turkish debt.
Moody's indicated it expects Turkey's economic growth to be weighed by political turmoil following July's coup attempt that could scare off vital foreign investment and stall economic reforms.
It also cited the impact on the country's tourism industry from a string of extremist attacks and a row over Turkey's downing of a Russian warplane last year that has kept Russian visitors away.

No comments:

Post a Comment

Please leave a comment-- or suggestions, particularly of topics and places you'd like to see covered