Moody's Investors Service

Credit rating agency Moody's said on June 26 that a review on a possible downgrade of Turkey's sovereign credit rating will hinge on what policies the country's government pursues following President Recep Tayyip Erdoğan's election victory this week.

Moody's late on June 7 downgraded and placed on review for further downgrade the ratings of 17 banks in Turkey, while also placing on review for downgrade the ratings of two finance companies. 

Credit rating agency Moody's announced on June 6 that it would review the credit ratings of 11 Turkish companies with regard to their solvency. 

Turkish Deputy Prime Minister Mehmet Şimşek defended Turkey's economic policies on June 2, a day after Moody's placed the country's rating on review for a downgrade and Fitch said it was monitoring its banks.

Credit ratings agency Moody's announced Friday that it would review Turkey's credit rating to decide if it should be downgraded.

Moody's has slashed its forecasts for Turkey's economic growth, citing deepening market pressure and growing risks. 

The outlook for the Turkish banking system is negative due to downside risks related to funding and asset quality, credit rating agency Moody's has stated.

Rating agencies are not concerned whether Greece will opt for a "clean exit" or a precautionary credit line as far as any upgrades of Greek bonds out of junk status to investment grade are concerned. What matters is that Greece is under strict supervision - with terms and conditions - which requires the implementation of the agreed reforms.

South Africa, whose debt is rated as "junk" or non-investment grade by credit rating agencies Fitch and S&P, has escaped a third junk rating from Moody's which suggested the country's economic outlook was set to improve under its new President Cyril Ramaphosa.

Standard & Poor's (S&P), Moody's, and Fitch Group are often accused of using double standards when assessing countries, companies and financial instruments. RT has talked to experts about this bias.