Moody’s Said to Put Some Turkey Banks on Ratings Watch Negative

7
Jun

Moody’s Said to Put Some Turkey Banks on Ratings Watch Negative

Moody’s Investors Service has notified some Turkish banks that they will be placed on ratings watch negative, according to three people with direct knowledge of the matter, who asked not to be named because the decision hasn’t been made public.

  • Some of the banks have also been downgraded, according to one of the people
  • Move follows Fitch Ratings placing 25 Turkish banks on negative watch on Friday, citing performance, asset quality, liquidity and funding profiles
  • Moody’s didn’t respond to requests for comment made by email and phone on Thursday
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