Credit rating company S&P Global on Thursday extended Pakistan’s credit rating from ‘CCC Plus’ to ‘B Minus’ and termed its future review ‘stable’.
The organization says that with the help of the International Monetary Fund (IMF), the financial situation and foreign exchange reserves of the country have become stronger.
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The rating agency S&P said in its statement that “a stable scenario shows that Pakistan’s financial and debt scale will remain stable from continuous rehabilitation and increasing government efforts of the economy.”
“We also hope that continuous financing from government sources will help Pakistan to help external payments and the country will continue to roll on its commercial loans in the next 12 months.”
After the ratings improved, Pakistan’s long global bonds saw an increase.
According to trade web data, the price of 2051 -mature bond rose 1.6 cents to $ 84.85 cents per dollar.
In 2031 and 2036, the prices of mature bonds also saw an increase in almost one cent, while low -binds increased slightly.
