Fitch affirms Pakistan’s credit rating at ‘B-’

ISLAMABAD: Fitch Ratings, one of the world’s top three agencies, on Monday affirmed Pakistan’s long-term foreign currency issuer default rating (IDR) at ‘B-’ with a “stable outlook”. “Pakistan’s rating affirmation reflects progress on fiscal consolidation and macro stability measures, broadly in line with its International Monetary Fund (IMF) programme and supporting its funding capacity,” the US-based rating agency said. “Foreign exchange buffers rebuilt over the past year provide a cushion ...

By none@none.com (Khaleeq Kiani)