Moody’s confirmation of B3 rating with stable outlook an encouraging sign: Hammad

ISLAMABAD, Aug 08 (APP): Federal Minister of Industries and Production, Hammad Azhar said here Saturday that Moody’s confirmation of Pakistan’s B3 rating with stable outlook during pandemic was an encouraging sign.

In a tweet, the federal minister said that the country’s rating was downgraded to B3 negative in June 2018 based on data/policies of Pakistan Muslim League (N) government.
In December 2019, he added, after economic stabilsation by the Pakistan Tehreek-i-Insaf government, rating was upgraded to B3 Stable.

It is pertinent to mention here that at the conclusion of the review for downgrade initiated on 14 May 2020, Moody’s on Saturday confirmed Pakistan’s B3 credit rating with a stable outlook.