Argentina's peso ended a tumultuous week Friday having shed 20 percent in its value against the US dollar as both Fitch and S&P cut the South American country's long-term credit rating, citing increased uncertainty and a rising risk of default.
NEW YORK: Moody’s Investors Service - one of the two leading credit rating agencies - released its latest report reaffirming Pakistan’s sovereign credit rating at B3 with a stable economic outlook. Moody’s also said that Pakistan’s medium-term growth outlook has been categorized as strong in the backdrop of China Pakistan Economic Corridor addressing infrastructure and energy constraints and the continuing macro stability enhancing reforms initiated by the present Government. The rating is supported by Pakistan’s…
ISLAMABAD: Standard and Poor's revised Pakistan long-term credit rating from B- to B Monday, saying better policymaking had improved the economy's performance and raised the country's growth prospects. The agency said Pakistan continued to benefit under its democratically elected government and that a reform programme had helped to restore economic stability. It affirmed the 'B' short-term rating and said the outlook on the long-term rating was stable. However it warned that many of Pakistan's structural weaknesses…