Fitch upgrades Pakistan rating to ‘CCC+’
- 29-Jul-2024
In a positive development, Fitch Ratings has upgraded Pakistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘CCC+’ from ‘CCC’. “The upgrade reflects greater certainty over the continued availability of external funding, in the context of Pakistan’s staff-level agreement (SLA) with the IMF on a new 37-month USD7 billion Extended Fund Facility (EFF),” Fitch company said […]
Fitch cuts Pakistan’s sovereign credit rating to CCC-
- 14-Feb-2023
ISLAMABAD: Global rating agency Fitch on Tuesday downgraded Pakistan’s long-term foreign currency issuer default rating (IDR) to ‘CCC-’ from ‘CCC+’, citing large refinancing risks, ARY News reported. According to a statement issued by the rating agency, the downgrade reflects further sharp deterioration in external liquidity and funding conditions, and the decline of foreign-exchange (FX) reserves […]