Pakistan gets higher Moody’s rating
By Asad Cheema

ISLAMABAD—Advisor to Prime Minister on Finance Dr. Salman Shah on Wednesday announced that Moody’s Investors Service has upgraded Pakistan’s foreign and local currency government bond ratings from B2 to B1.
Speaking at a press conference here today the Advisor said the Moody’s Investors Service today concluded the review for possible upgrade that was initiated on November 7. He said “the upgrading of rating is recognition of our economic and financial policies and will have a positive impact on International Capital Market”. He added that upgrade primarily reflects the ongoing decline in the country’s public and external debt ratios, largely the result of a significant structural increase in GDP growth in recent years coupled with a relatively restrained fiscal policy. Dr. Salman Shah said the outlook on Pakistan’s government bond ratings is now stable and Pakistan’s country ceiling for foreign currency bonds remains at Ba3.