"As the risks to Turkey's credit profile increase, the country's institutions appear to be unwilling or unable to effectively address these challenges."
The rating agency says the threat of "a severe and prolonged decline" in auto markets due the coronavirus adds to the pressures on the company.
While all eyes are on the equity markets, credit is the lifeblood of corporations. Which companies are facing headwinds?
As coronavirus fears disrupt the economy, CFO is tracking the weakening in corporate credit ratings and the companies under stress.
The company’s rating was lowered after the stock climbed over 90% in the past 12 months.
The ratings agencies lowered Boeing's outlook to negative due to concerns over the financial fallout from the grounding of the 737 MAX planes.
The rating agency believes Kraft Heinz "will be unable to meaningfully grow adjusted EBITDA" amid "significant" competition from other manufacturers.
S&P cited leverage increases and turnaround execution risks.
Changes in executive pay, the departure of its CFO, and almost $30 billion of cash obligations may be warning signs for Netflix's valuation outlook.
"Pressures from rising inequality will exacerbate already material fiscal challenges on the horizon," Moody's warns in a report.
GE's "solid performance" in aviation and health care has been "overshadowed by weakness in the power segment," the rating agency says.
Turkey's economy is being hurt by a 40% drop in its currency, the lira, and skyrocketing inflation.
