Turkey 's failed political coup has increased pressure on the country 's banks which are already trying to cope with rising bad debt and a drop in tourism . Yapi ve Kredi Bank and Sekerbank both cancelled about $ 800 m of debt sales after the attempted deposition of President Erdogan . The six - month state of emergency is making it hard for banks to access the funds they need to pay short - term debt , meanwhile , the falling lira is making lending in foreign currency riskier . On Tuesday , Moody 's placed Turkey under review for a possible downgrade to junk .
Turkey's failed political coup has increased pressure on the country's banks which are already trying to cope with rising bad debts and a drop in tourism. Yapi ve Kredi Bankasi and Sekerbank both cancelled about $800m of debt sales after the attempted deposition of President Erdogan. The three-month state of emergency is making it hard for banks to access the funds they need to cover short-term debt, meanwhile, the falling lira is makes lending in foreign currency riskier. On Tuesday, Moody's placed Turkey under review for a possible downgrade to junk.