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World News

Turkey's Erdogan says S&P move political, financial sector strong

ANKARA (Reuters) - President Tayyip Erdogan said on Thursday a cut in Turkey’s foreign currency credit rating by Standard & Poor’s after a failed military coup had been a political decision and showed the rating agency had “sided with the coup, not with democracy”.

Erdogan told Reuters in an interview in his palace in Ankara that if fellow rating agency Moody’s followed suit, it would not be an objective decision. He said there was no liquidity problem in Turkey’s strong financial sector.

Reporting by Samia Nakhoul, Nick Tattersall and Orhan Coskun and Tulay Karadeniz; Writing by Nick Tattersall

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