Moody’s lowers Rating for Turkey to junk level – FAZ – Frankfurter Allgemeine Zeitung

The Logo of the Moody’s rating Agency at its Office in New York.

The credit rating Agency Moody’s rating of the long-term liabilities of the Turkey with the rating of “Ba1″. Although this is only a reduction of one level, but means that the Turkey from the so-called Investment-the area is slipping in the junk range.

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Still stable the Rating Outlook is. This is not to say that the country is threatening for the time being, to be more graduated. However, Turkey could be in for a billion-dollar capital flight. Large investors are leaving, as a rule, the credit Ratings and are more or less forced to withdraw funds if the credit rating agencies of the countries rate worse and worse.

Moody’s had already said in mid-July, after the failed military coup in Turkey, to consider a downgrade. It is the medium-term impact on the economy would need to be evaluated on growth and political institutions, it said. Now, Moody’s stated that for the years 2016 to 2019, for the Turkey only an average economic growth of 2.7 percent. The sun is clearly below the 5.5 percent, which the Turkish economy was on average between 2010 and 2014, has grown.

The government’s response to the failed military coup raises questions, said Moody's. So, there is, according to the Turkish action against the private companies that have Gülen Connections to the movement of the preacher Fettullah, now increasing Concerns with a view to the protection of private Investments in Turkey. The investment climate will be a burden. Turkey accuses Gülen, mastermind of the failed coup of 15. To be July. Gulen denies the charges.

the Turkish government, the Rating downgrade pushed by Moody’s criticism. Prime Minister Binali Yildirim said that the step does not show that the assessment is neutral.

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