The ratings agency, though, believes “events are still unfolding,” which will require additional time to assess the mid-term impact of recent events before making a final decision. Moody’s expects to finish its review by October 16.

SEE MORE: Turkey Stocks, ETF Plunge Following Failed Coup

S&P Global Ratings, though, already lowered the country’s’ credit rating to two steps below investment-grade and warned that increased political uncertainty could continue to push off investors and undermine fiscal management.

For more information on the Turkish markets, visit our Turkey category.

iShares MSCI Turkey ETF