WASHINGTON: Moody’s Ratings on Wednesday upgraded Pakistan‘s credit rating with a stable outlook from Caa2 to Caa1, citing the country’s improved financial position supported by a loan from the International Monetary Fund (IMF).
Upgrade was secured after similar moves by S&P Global Ratings and Fitch Ratings in the past four months following repeated pledges by Prime Minister Shehbaz Sharif’s government to stay the course on fiscal consolidation and multiple reforms, it said in a statement.
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