Fitch warns of S400 sanctions on Turkish lira

Fitch Ratings in London - LONDON / ENGLAND - SEPTEMBER 15, 2016 - Görsel
Fitch warns of S400 sanctions on Turkish lira

International credit ratings agency Fitch warned on Tuesday that possible U.S. sanctions on Turkey would have a “significant impact” on the Turkish lira sentiment, which has lost value against dollar over last three months due to the ongoing row between Ankara and Washington over the Russian missile defence system. “If sanctions are imposed, it would be relatively mild and… the direct impact would be minimal. However, the impact on sentiment could be significant,” Paul Gamble, senior director and head of emerging Europe at Fitch Ratings, said. Also, Lindsey Liddell, director of financial institutions at Fitch Ratings, said Turkish banks provide strong protection against losses that may occur in loans.