International rating agecy, Moody's affirmed Turkey's credit rating at Baa3 on late Friday and preserved Turkey's 'negative outlook'.

The last outlook change made by Moody's was in April 2014 when the rating agecy cut the outlook from stable to negative, citing "increased pressure on the country's external-financing position driven by heightened political uncertainty and lower global liquidity," which hurt investor confidence.

Moody's is expected to issue the next credit rating for Turkey on August 7 and December 4.