S&P Global lowers Pakistan rating to 'CCC+/C' On external risk

MG News | December 22, 2022 at 07:57 PM GMT+05:00

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December 22, 2022 (MLN): Global ratings agency S&P Global has downgraded Pakistan’s long-term sovereign credit rating to “CCC+” from “B” due to high external risk.

However, the country's outlook remained stable.

To note, the economy of country in 2023 will remain in pressure due to recent floods, Russia Ukraine war, high energy prices, depleted foreign exchange reserves, less export, rupee depreciation, tighter global financial conditions.

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