Posted on 09/24/2016 6:33:42 AM PDT by Olog-hai
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. …
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