The Pakistan credit rating upgrade reflects stronger foreign-exchange reserves, improved fiscal conditions, lower domestic financing costs and greater resilience to external economic shocks. ISLAMABAD: Moody’s Ratings has upgraded Pakistan’s sovereign credit rating from Caa1 to B3, citing improvements in the country’s external position, fiscal indicators and domestic financing conditions. The ratings agency retained Pakistan’s outlook at stable, signalling that it does not currently expect a major change in the country’s credit profile. Moody’s said Pakistan’s external vulnerabilities have eased as its foreign-exchange reserves have continued to increase. The agency attributed…
Read MoreMoody’s Upgrades Pakistan Credit Rating to B3 Amid Economic Stabilisation
