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Moody’s changes Pakistan’s ratings outlook from stable to negative

SINGAPORE: Moody's on Wednesday changed the outlook on Pakistan's rating to negative from stable but affirmed the B3 debt ratings, considered as being speculative and a high credit risk.    The decision to change the outlook to negative is driven by heightened external vulnerability risk. Foreign exchange reserves have fallen to low levels and, absent significant capital inflows, and will not be replenished over the next 12-18 months. Low reserve adequacy threatens continued access to external financing at moderate costs,…

China hits back at S&P’s ‘mistaken’ credit downgrade

BEIJING: China on Friday lashed out at the decision by Standard & Poor's to downgrade the country's credit rating, calling the warning against ballooning debt "mistaken" and based on "cliches" about its economy. The agency slashed China from AA-minus to A-plus on Thursday, a move that followed a similar decision in May by Moody's stemming from concerns that the world's second largest economy is increasingly overleveraged. "Standard & Poor's downgrade of China's sovereign credit rating is a mistaken decision,"…

ADB upgraded BISP rating from A to A+: Marvi Memon

ISLAMABAD: Minister of State and Chairperson Benazir Income Support Program (BISP) MNA Marvi Memon on Monday said BISP has successfully achieved Disbursement Linked Indicators (DLIs) under World Bank, DFID and Asian Development Bank (ADB) projects which are development partners of BISP.