Moody's lifts Pakistan sovereign rating to B3 from Caa1, cites improved governance and easing of external risk
ISLAMABAD: Global ratings agency Moody’s on Monday upgraded Pakistan’s sovereign credit rating to B3 from Caa1 and maintained a stable outlook, citing governance improvement expectations and easing external and fiscal vulnerabilities. “The upgrade to B3 reflects our expectations that improvements in governance will allow the government to sustain the recent improvements in the country’s external…
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.
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