Erdogan says rating agencies seek to corner Turkey, should not be taken seriously

ISTANBUL (Reuters) – Credit rating agencies are preoccupied with trying to drive Turkey into a corner and financial markets should not take them seriously, President Tayyip Erdogan said on Friday, a day after Moody’s downgraded Turkey’s sovereign rating.

He was addressing his ruling AK Party after Moody’s cut Turkey’s rating further into junk territory, citing a continued weakening of its institutions and the increased risks from its wide current account deficit.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.