Moody’s still downbeat on Turkish banks
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.