Moody's upgrades Pakistan's sovereign rating from Caa1 to B3
Moody's Ratings has upgraded Pakistan's sovereign credit rating to B3 from Caa1 and maintained a stable outlook.
The credit rating agency said that the upgrade was based on expectations that “improvements in governance will allow the government to sustain the recent improvements in the country's external position and strengthen fiscal metrics.”
Pakistan's external vulnerability risks have further eased since its last rating action in August 2025, with foreign exchange reserves building steadily, supported by sustained macroeconomic stabilization, it added.
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