Fitch says prolonged Turkey crisis could hit creditworthiness

by Reuters
Tuesday, 7 January 2014 10:49 GMT

ISTANBUL, Jan 7 (Reuters) - Credit ratings agency Fitch warned on Tuesday that a corruption scandal shaking the Turkish government had the capacity to weaken the country's creditworthiness, but said there was no impact on its 'BBB-' sovereign rating for now.

"If the corruption scandal drags on, it could weaken the government and undermine its ability to take timely policy measures that would maintain economic stability," Fitch said in a statement.

"These factors are not incompatible with a 'BBB-' rating, but they have the capacity to weaken sovereign creditworthiness."

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