HALISTER1: Watch for Possible Fitch Downgrade of Turkey: Brown Brothers

Watch for Possible Fitch Downgrade of Turkey: Brown Brothers

(Bloomberg) -- Fitch should downgrade Turkey today, but may defer, take the stance of Moody’s and decide it needs more information, Brown Brothers’ Win Thin said.
  • NOTE: Moody’s put off a decision a couple weeks ago, while S&P cut it’s rating right after the coup attempt
  • BBH model has Turkey at BB/Ba2/BB; Thin prefers S&P’s more aggressive approach
  • NOTE: Aug. 5, Moody’s Review of Turkey’s Baa3 Rating Remains Ongoing
  • NOTE: Aug. 1, S&P Revises Turkey Risk Assessment to ‘High Risk’ 5 From 4
  • NOTE: July 20, Turkey Ratings Cut to BB From BB+ by S&P, Outlook Negative
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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FIM FP (Fimalac)

People
Win Thin (Brown Brothers Harriman & Co)

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Political Coups

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