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While Fitch Ratings, Moody's and the Japan Credit Rating Agency (JCR) are keeping them at “investment” grade, and Standard & Poor's (S&P) at one level below, negative signals over Turkey’s credit ratings are not dissipating.
Ratings agencies have begun to use the word “lowering” following the Central Bank’s decision to reduce the ”political interest rate” — so much so that even Fitch Ratings, which had earlier upgraded Turkey to “investable,” is now warning of downgrading.
