Moody’s had taken action on 17 Turkish banks and nine Turkish companies shortly after its recent decision to downgrade Turkey’s government issuer rating to Ba2 stable from Ba1 negative.
General Electric’s Senior Vice President Alex Dimitrief made statements about their investments in Turkey. “I don’t know which credit rating Moody’s gave you but we will sustain our investments in Turkey.” Dimitrief stated.
General Electric had started its first smart factory transformation in Turkey’s Gebze.