Fitch Ratings downgrades Turkey’s credit rating
Fitch Ratings, the international credit rating agency, announced that it had downgraded Turkey’s credit rating from BB- to B+, and confirmed its outlook as “negative”.
In its assessment on 2nd December 2021, Fitch Ratings confirmed Turkey’s credit rating as “BB-“, and changed its credit rating from “stable” to “negative”, noting that monetary easing, which it described as “premature”, had caused deterioration in domestic security.
This development would certainly not be welcome by Turkey’s administration and Finance Minister who makes strong statements as to how well the country has been doing recently, as far as financial performance is concerned.
