ISLAMABAD: Moody’s Ratings upgraded Pakistan’s credit rating, citing its improved financial position supported by a loan from the International Monetary Fund (IMF), according to Bloomberg.
The agency upgraded the South Asian country to Caa1 from Caa2 with a stable outlook, the ratings agency said in a statement.
The 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 set by the IMF.
