HALISTER1: Turkey’s Simsek Says Rating Cut Not Impossible, Govt Is Prepared

Turkey’s Simsek Says Rating Cut Not Impossible, Govt Is Prepared

(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.
  • 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
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Mehmet Simsek (Republic of Turkey)

Topics
Political Coups

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