Moody’s says 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
WEB DESK -- Global rating agency Moody's has upgraded Pakistan's sovereign credit rating from Caa1 to B3.
In a post on X, Advisor to the Finance Minister Khurram Schehzad said Moody's has also maintained the outlook of Pakistan's rating as stable.
He said the up-gradation of Pakistan's credit rating is a testament of growing confidence in Pakistan's economy and debt repayment capacity.
Khurram Schehzad said the B3 rating is another significant development towards Pakistan's economic recovery and financial stability.
He said the up-gradation by the global rating agency is an acknowledgement of Pakistan's improving economic and financial position.
He further said that an upgraded credit rating could pave the way for improved global investor confidence and Pakistan's access to international financial markets.
The Advisor to the Finance Minister said Moody's latest decision is a significant positive step in Pakistan's journey to economic stability.
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