Moody's downgrades Turkiye's ratings to B3

“The foreign-currency senior unsecured shelf rating was downgraded to B3 from B2. Concurrently, the foreign-currency backed senior unsecured rating of Hazine Mustesarligi Varlik Kiralama A.S., a special purpose vehicle wholly owned by the Republic of Turkiye from which the Treasury issues sukuk certificates, was also downgraded to B3 from B2,” the agency said in a statement  

The outlook is changed to stable from negative for both issuers. (ILKHA)