<div id="readability-page-1">By Akin Nazli in Belgrade Fitch Ratings late on April 10 downgraded its rating outlook on Turkey to Stable from Positive in response to a marked decline in central bank FX reserves in the face of economic impacts caused by the conflict in the Middle East. The move was made by Fitch as part of an unscheduled rating review. Under applicable credit ra...</div>

<p>Fitch Ratings downgraded Turkey's rating outlook to Stable from Positive on April 10 due to a significant decline in central bank foreign exchange reserves, attributed to economic impacts from the ongoing conflict in the Middle East. This decision was part of an unscheduled rating review.</p>

Fitch downgrades outlook on Turkey as war impacts drain FX reserves