International rating Agency Fitch downgraded the Outlook of Turkey from “stable” to “negative.” The Agency also reports on the official site that the rating was affirmed at BBB-.
Fitch analysts noted that a failed military coup increased risks to political stability in the state. Security conditions outside the context associated with the rebellion, have also deteriorated. Therefore, Fitch commented on the terrorist attacks in Istanbul and Ankara.
Political uncertainty will affect economic performance and threatens the economic policy, forecast in the Agency.
Fitch downgrades Turkey to BBB – from BBB on 22 July, with a stable Outlook. Another member of the Big three ratings, Standard & Poor’s also lowered the rating of the country after the coup – from BB+ to BB with a negative Outlook. Moody’s placed the ratings of Turkey for reconsideration.