June 14, 2019 / 9:09 PM / 3 months ago

Moody's downgrades Turkey rating to B1, maintains negative outlook

ISTANBUL, June 14 (Reuters) - Moody’s cut Turkey’s sovereign credit rating deeper into “junk” territory on Friday, saying the risk of a balance of payments crisis continued to rise, and with it the risk of a government default.

Moody’s downgraded the rating to B1 from Ba3 and maintained a negative outlook. It cut the rating to Ba3 from Ba2 in August last year. (Reporting by Daren Butler Editing by Sonya Hepinstall)

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