LONDON, March 20 The cost of insuring exposure
to Turkish debt rose on Monday to the highest level in two weeks
after ratings agency Moody's cut the sovereign's outlook to
negative from stable after markets closed on Friday.
Data from IHS Markit showed that five-year credit default
swaps (CDS) for Turkey rose 21 basis points (bps) from Friday's
close to 243 bps, the highest level since March 3.
Moody's cited the continuing erosion of Turkey's
institutional strength as a factor in the cut.
(Reporting by Claire Milhench; editing by Sujata Rao)