Moody’s still downbeat on Turkish banks

Dünya Executive - - OVERVIEW -

Credit ratings agency Moody’s said it is maintainin­g its negative outlook on Turkey’s banking system, reflecting the agency’s expectatio­n of weakening financials for banks amid a challengin­g operating environmen­t. The outlook, which was published on May 3, expresses Moody’s expectatio­ns of Turkish bank’s

creditwort­hiness over the next 12 to 18 months. Although financials remained resilient in 2016 and early 2017, Moody’s said it expects a combinatio­n of factors, including domestic political and geopolitic­al tensions, potential currency depreciati­on and weakening investor confidence, to take a toll in the future.

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