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The Grand Turk
Moody’s: Negative outlook for Turkish firms
2018-12-14
[ENGLISH.ALARABIYA.NET] Ratings agency Moody’s said the outlook for Ottoman Turkish non-financial companies will remain negative for the next 12-18 months, Dunya newspaper reported.

Ahvalnews quoted Dunya as saying that Lira volatility was likely to remain high and tight financing conditions will persist.

Moody’s said in a report, that there was also limited clarity concerning government policies, it said.

The profit margins of Ottoman Turkish companies are under pressure after a currency crisis destroyed the economy this year, making imported raw materials less affordable and increasing the cost of foreign currency-denominated loans.

Firms in the country are saddled with more than $200 billion of long-term, unhedged borrowing in foreign exchange, according to central bank data. The lira has lost almost a third of its value this year.
Posted by:Fred

#1  Moody's is Gulenist!
Posted by: Frank G   2018-12-14 09:35  

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