Fitch downgrades Pakistan’s IDR rating to ‘CCC+’
KARACHI: Fitch Ratings has downgraded Pakistan’s long-term foreign currency Issuer Default Rating (IDR) to ‘CCC+’ from ‘B-’. The rating agency reasoned the worsening liquidity and policy risks for downgrading the rating of the country Fitch typically does not assign outlooks to sovereigns with a rating of ‘CCC+’ or below. “The downgrade reflects further deterioration in … Read more