Moody’s notes on Wednesday improved Pakistan’s credit note with a stable perspective from CAA2 to CAA1, citing the improved financial situation in the country supported by a loan from the International Monetary Fund (IMF).
The upgrade was obtained after similar measures by S&P Global Ratings and Fitch Ratings in the last four months following the repeated promises of the government of Prime Minister Shehbaz Sharif to keep the course on tax consolidation and multiple reforms, he said in a statement.
This is a story in development and is updated with more details.
