Citing inflation, Fitch downgrades Turkey to ‘B+’
Fitch Ratings on Friday downgraded Turkey's debt from BB- to B+ with a negative outlook, citing high inflation and a lack of confidence in policymakers to turn the tide. The downgrade comes after data released earlier in the month showed inflation hitting a two-decade record of nearly 50 percent in...
Fitch downgrades Kuwait to “AA-“, with stable outlook
The downgrade reflects ongoing political constraints on decision-making that hinder addressing structural challenges related to heavy oil dependence.
S&P lowers Turkey outlook to negative, citing ‘rising risks’
Turkey's annual inflation has surged above 20 percent to its highest level in three years after President Recep Tayyip Erdogan installed loyalists at the central bank who share his unorthodox vision that high borrowing costs cause inflation rather than slow it down.
