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

Published March 9, 2018 Updated March 9, 2018 04:00pm
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By Fawad MaqsoodReuters
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ISTANBUL: 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.

Copyright Reuters, 2018

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