Moody’s Investors Service (MIS) has recently published a statement announcing that it placed the government of Turkey’s Ba2 long-term issuer ratings, the Ba2 senior unsecured bond ratings and (P)Ba2 senior unsecured shelf ratings on review for a possible downgrade. Explaining the reasoning behind that decision, Moody’s wrote: “Today’s decision to place Turkey’s Ba2 rating on review for downgrade is driven by Moody’s expectation that the recent erosion in investor confidence in Turkey will continue if not addressed through credible policy actions following the June elections, leading to a sustained increase in the probability and proximity of severe balance of payments constraints.” “The increase in the country’s external vulnerability resulting from that confidence shock can be seen in a number of indicators. Most visibly, the Turkish lira has depreciated by roughly 20% in the past three months.” “The negative shift in investor sentiment is a significant challenge for a country that is deeply dependent on net capital inflows to finance annual gross external borrowing requirements in excess of $200 billion, reflecting the large current account deficit and sizeable short-term debt and maturing long-term debt maturities.” “The authorities have made limited progress in addressing Turkey’s structural economic problems, most notably its structural external deficits, in recent years.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Wall Street stocks up on progress with North Korea and Italy’s forming a new government FX Street 5 years Moody's Investors Service (MIS) has recently published a statement announcing that it placed the government of Turkey's Ba2 long-term issuer ratings, the Ba2 senior unsecured bond ratings and (P)Ba2 senior unsecured shelf ratings on review for a possible downgrade. Explaining the reasoning behind that decision, Moody's wrote: "Today's decision to place Turkey's Ba2 rating on review for downgrade is driven by Moody's expectation that the recent erosion in investor confidence in Turkey will continue if not addressed through credible policy actions following the June elections, leading to a sustained increase in the probability and proximity of severe balance of payments… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.