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Moody's downgrades Turkey outlook to negative
Turkey’s credit rating has been downgraded as a result of political turmoil in the country.
The international credit rating agency, Moody’s, has downgraded its outlook on Turkey over increased pressure on the country’s external financing position and weaker growth prospects.
Moody’s on Friday changed the outlook from stable to negative, which puts the government’s investment-grade...
Fitch Ratings downgrades Argentina on default concerns
The Fitch ratings agency has downgraded Argentina five notches, saying the country could default on its obligations to US creditors. That’s after a US judge ordered Argentina to set aside $ 1.3bn for debt repayment by December 15.
The rating agency cut its long-term rating for Argentina to “CC” from “B,” with the short-term rating being cut to the level one step above default – to “C”...
France unveils new Austerity Plan
French Prime Minister Francois Fillon delivers a speech during a press conference at Matignon, in Paris, Monday, Nov. 7, 2011.
The French Prime Minister announces the country’s second austerity package in less than three months with the aim of protecting France from the widening eurozone crisis and avoiding credit rating downgrade.
“The time has come to adjust France’s efforts. With...
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