Credit ratings agency, Moody's is to review 10 Turkish banks with a view to possibly downgrading them.
ISTANBUL - Moody’s Investors Service announced that it has placed on review the ratings of 10 Turkish lenders with a view to possibly downgrading them.
According to a statement from the credit ratings agency the banks up for a possible downgrade include Akbank, Garanti Bankasi, Halk Bankasi, Turkiye Is Bankasi, Vakiflar Bankasi and Yapi ve Kredi Bankasi.
The agency's reasons for the reviews are firstly the "pressures on the standalone credit strength of the institutions, and secondly, Moody's evolving views on the level of systemic support that should be incorporated in the senior ratings."
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