BRIEF-Moody's Affirms Turkey's B2 Ratings And Maintains Negative Outlook

BY Reuters | CORPORATE | 12/03/21 04:48 PM EST

Dec 3 (Reuters) -

* MOODY'S AFFIRMS TURKEY'S B2 RATINGS AND MAINTAINS NEGATIVE OUTLOOK

* MOODY'S SAYS EXPECTS THAT TURKEY'S PUBLIC FINANCES WILL REMAIN RELATIVELY ROBUST, WITH PUBLIC DEBT STAYING AT AROUND 40% OF GDP IN 2022

* MOODY'S ON TURKEY, SAYS CURRENT ECONOMIC POLICY STANCE WILL LEAD TO SIGNIFICANTLY HIGHER INFLATION OVER COMING MONTHS

* MOODY'S ON TURKEY, SAYS UPCOMING ELECTIONS MAY LEAD TO LOOSER FISCAL POLICY IN EFFORT TO STIMULATE ECONOMIC GROWTH

* MOODY'S SAYS TURKEY'S PRIVATE SECTOR IS RELATIVELY RESILIENT AND WELL PROTECTED AGAINST CURRENCY DEPRECIATION

* MOODY'S ON TURKEY, SAYS LOWER CURRENT ACCOUNT DEFICIT AND IMPROVED RESERVE POSITION REDUCE EXTERNAL VULNERABILITY

* MOODY'S ON TURKEY, SAYS FISCAL ANCHOR REMAINS INTACT SO FAR BUT RISKS INCREASE DUE TO CURRENCY SENSITIVITY OF PUBLIC DEBT

* MOODY'S SAYS CONTINUING NEGATIVE OUTLOOK MAINLY REFLECTS TURKEY'S UNPREDICTABLE POLICYMAKING IN PARTICULAR CENTRAL BANK'S MONETARY POLICY STANCE Source text for Eikon:

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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