Moody’s upgrades rating to B3 on governance
Moody’s Ratings (Moody’s) has upgraded Pakistan’s sovereign credit rating to B3 from Caa1, a four-year high, citing improved governance, stronger external buffers and sustained macroeconomic stabilisation, while retaining a stable outlook. The rating agency stated the upgrade to B3 reflects its expectations that improvements in governance will allow the government to sustain the recent improvements in the country’s external position and strengthen fiscal metrics.