S&P upgrades Pakistan’s credit rating to B-

July 25, 2025 (MLN):  S&P Global Ratings raised its long-term sovereign credit ratings on Pakistan to "B-' from 'CCC+", and its short-term ratings to 'B' from 'C'. The outlook on the long-term rating is stable.

At the same time, it revised its transfer & convertibility assessment to 'B-' from 'CCC+'. 

The stable outlook reflects the rating agency’s expectations that continued economic recovery and government efforts to enhance revenue will stabilize fiscal and debt metrics. They also expect that sustained official financing will support Pakistan in meeting its external obligations, and that the country will continue to roll over its commercial credit lines over the next 12 months.

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