Turkey debt outlook cut to 'negative' by Standard and Poor's

The Standard and Poor's agency said Friday it had cut the outlook for Turkey's credit rating to 'negative' from 'stable' because of a slump of the lira. The national currency has dropped 18 percent against the dollar since the agency's latest review of Turkey in November, raising inflationary pressures, endangering corporate balance sheets and hurting economic growth, S and P said. The agency's actual ratings for Turkey remained intact, but the outlook change indicates that any future move is no