Turkey’s Simsek Says Rating Cut Not Impossible, Govt Is Prepared
Source: BFW (Bloomberg First Word)
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Mehmet Simsek (Republic of Turkey)
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Political Coups
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UUID: 7947283
(Bloomberg) -- Credit rating cut following failed coup attempt would be “very unfair” but not outside realm of possibility, Deputy PM Mehmet Simsek says in televised interview on CNN-Turk.
Alert: HALISTER1- Turkey wld work hard to immediately restore investment-grade rating
- Risks rating agencies warned of including more polarization following coup haven’t materialized
- “Of course people want nicer houses,” but Turkey’s priority shld be directing spending to investment, industry and R&D, he said when asked about banks cutting mortgage rates
- Will spend much of September meeting with investors abroad
- Turkey won’t cut itself off from West, attempts to sever Turkey from West shld be considered part of coup attempt
- Financial impact of attempted coup will be contained; real cost is reputational because of concerted efforts to blacken Turkey’s name
Source: BFW (Bloomberg First Word)
People
Mehmet Simsek (Republic of Turkey)
Topics
Political Coups
To de-activate this alert, click here
UUID: 7947283