Sept 11 (Reuters) - Moody's on Friday downgraded Turkey's rating to 'B2' from 'B1', saying the country's external vulnerabilities are likely to result in a balance of payments crisis and its fiscal buffers were eroding.

"As the risks to Turkey's credit profile increase, the country's institutions appear to be unwilling or unable to effectively address these challenges," the ratings agency said in a statement https://www.moodys.com/research/Moodys-downgrades-Turkeys-ratings-to-B2-and-maintains-negative-outlook--PR_431146?amp;cid=.

However, Moody's maintained the country's outlook at negative. (Reporting by Nilanjana Basu in Bengaluru; Editing by Arun Koyyur)