Rating agency S & P lowers credit rating of Turkey – FAZ – Frankfurter Allgemeine Zeitung

Erdogan supporters on Taksim Square in Istanbul

The rating agency Standard & amp; Poor’s has lowered after the attempted military coup the creditworthiness of Turkey by one notch. The credit rating will reduced from “BB +” to “BB”, said S & P on Wednesday in London. The note slips thus deeper into the so-called junk area. P’s decision, the outlook for the new rating is negative

After the failed military coup, the political landscape have further polarized and the institutional structure is further eroded, founded S & amp: the country a further downgrade same is threatened.. There stand the country a prolonged period of political uncertainty before. This is likely to put pressure on capital inflows from abroad, so S & amp; P. Turkey is heavily dependent on capital inflows due to its high current account deficit

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S & amp;. Holds P further deterioration of the economic and debt development possible. Therefore, the outlook for the rating is negative. Political uncertainty could weaken the investment environment. This could increase the pressure on the current account.

The other two major rating agencies Moody’s and Fitch Turkey still two scores better. Here the review is not yet in the garage area. However, Moody’s has the country threatened a downgrade on Monday. The dollar rose to Turkish lira after the S & P decision to a record high of 3.0834 lira

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