Debt and deficits, which were already rising before the pandemic, have started to erode the country's traditional credit strengths, the credit rating agency said.
The credit rating agency also revised up its GDP forecast for for Turkey for 2019 by 0.8 percentage points to 0.3X25 on the back of stronger second-quarter out-turns.
Turkish lira steady against the US dollar following Moody's and Standard & Poor's ratings agencies downgrades on Friday.
Twenty ships carrying over 1.2 million tonnes of US sorghum, valued at more than $216 million, are on the water, according to export inspections data from the USDA's Federal Grain Inspection Service.
Finance minister downplays the economic toll of ad hoc diplomatic, transport and economic sanctions by Saudi Arabia and its allies against Qatar.
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