AFP: S&P cuts Turkey debt rating to 'B+,' projects 2019 recession18 August 2018 | 00:29 | FOCUS News Agency
The agency cut the rating a notch to 'B+' and pointed to the weakening of the Turkish lira in the past two weeks, amid an overheating economy and high debt levels.
"In our view, the substantial weakening of the lira has negative fiscal implications.... We now project that the economy will contract in 2019," S&P said in a statement.
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