Turkey Sinks Deeper Into Junk After Moody's Downgrades To B1, Warns Of Government Default Risk [zero hedge]
Moody's Corporation (MCO)
Last moody's corporation earnings: 4/30 07:00 am
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Source: zero hedge
When it rains, it pours for Turkey, which already saw its currency slump earlier in the day when its foreign minister, Murat Cavuosglu, said that Ankara is ready to retaliate to any US sanctions imposed upon the NATO member state by the US over Turkey's purchase of a Russian S-400 missile system. And then, with markets set to close for the day and today's pounding of the Turkish lira put in the history book, Warren Buffett's favorite rating agency, Moody's, delivered what tomorrow will surely be called an act of aggression and prompt Erdogan to expel any Moody's employees from Turkey and confiscate any office they may have in the country, namely a downgrade of Turkey deeper into junk territory, cutting its credit rating by one notch from Ba3 to B1, outlook negative.As Moody's explained "today's downgrade reflects the view that the risk of a balance of payments crisis continues to rise, and with it the risk of a government default." Pretty self-explanatory.The news spiked the lira - wh
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MCO
News
- Israel downgraded by another big credit ratings agency as Middle East tensions escalate [Business Insider]Business Insider
- Two Top Rating Agencies Reaffirm Metropolitan's Strong Credit Ratings [Yahoo! Finance]Yahoo! Finance
- Focus: Panama election unlikely to shift outlook for First Quantum's copper mine [Reuters]Reuters
- FOCUS-Panama election unlikely to shift outlook for First Quantum's copper mine [Yahoo! Finance]Yahoo! Finance
- Moody's Co. (NYSE: MCO) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
MCO
Earnings
- 2/14/24 - Miss
MCO
Sec Filings
- 4/19/24 - Form 8-K
- 4/2/24 - Form 3
- 4/2/24 - Form 4
- MCO's page on the SEC website