Moody's lifts Pakistan sovereign rating to B3 from Caa1
Global ratings agency Moody’s lifted Pakistan’s sovereign rating to ‘B3’ from ‘Caa1’ on Monday, citing improvements in governance and easing external vulnerability risks. The agency maintained the country’s outlook at ‘stable’. The development comes only a month after S&P Global Ratings upgraded Pakistan’s long-term sovereign credit rating to ‘B’ from ‘B-’, citing an improving external position…
Moody’s, a global ratings agency, has upgraded Pakistan's sovereign credit rating to 'B3' from 'Caa1', reflecting improvements in governance and reduced external vulnerability risks. The agency has also kept the country's outlook stable. This upgrade follows a recent upgrade by S&P Global Ratings, which raised Pakistan's long-term sovereign credit rating to 'B' from 'B-' due to an improving external position and gradual macroeconomic stabilisation.
A higher sovereign credit rating indicates a country's enhanced financial health, making it more attractive to foreign investors and lenders, which could potentially lead to increased foreign investment and better borrowing terms for Pakistan.
Brief written by urgent.news from Dawn Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
