After reaffirming Pakistan’s credit ratings of long-term and short-term at ‘B’ last month, S&P Global Ratings today assigned its ‘B’ long-term foreign currency rating to Pakistan’s benchmark sized US dollar denominated senior unsecured notes issue.

The notes rated ‘B’ represent direct, unconditional, and unsecured obligations of the sovereign and rank equally with other instruments.

The road show for the proposed note issue is expected to commence in the next few days.