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Standard & Poor

Standard & Poor’s affirms Pakistan’s ‘B/B’ ratings with stable outlook

ISLAMABAD: The global rating agent Standard & Poor's (S&P) in its report on Monday affirmed Pakistan's 'B' long-term and short-term sovereign credit rating. The outlook for the long-term ratings remains stable. Affirmation of Pakistan's rating reflects that economic prospects remain favourable and external and fiscal metrics of the country will not worsen materially from their current level, reported press information department. Standard & Poor's expect the government of Pakistan to continue its reform…

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,"…