ISLAMABAD: Moody’s upgrades Pakistan’s credit rating to ‘Caa1’ from ‘Caa2’, citing stronger external position. In a statement, Moody’s said the country’s local and foreign currency credit ratings, previously at CAA2, have been improved to CAA1. According to the agency, Pakistan’s credit outlook has also been revised from “positive” to “stable.” Moody’s said Pakistan’s better outdoor … Read more
The rupee plunged to an all-time low against the dollar to reach Rs285.09 at the closing of the interbank. The local currency previously recorded the all-time low of Rs276.58 on February 3, 2023. The local currency also fell due to a delay in the IMF programme. KARACHI: The rupee plunged to an all-time low against … Read more
The rupee sharply declined by Rs4.61 against the dollar on Wednesday. The import bill for January 2023 has been recorded at $4.856 billion. Local currency recorded a historic low of Rs276.58 against the dollar on February 3. KARACHI: The rupee sharply declined by Rs4.61 against the dollar on Wednesday, owing to the economic uncertainty after … Read more
The Pakistan Stock Exchange KSE-100 shares Index shed 56.16 points, or 0.13 percent to close at 42,155.48 points. Moody’s downgraded the long-term deposit ratings of 5 Pakistani banks to ‘Caa1’ from ‘B3’. The WB and State Bank of Pakistan (SBP) have also cut down growth to two percent for the fiscal year 2023. KARACHI: The … Read more
Russia has defaulted on its foreign debt after failing to pay bondholders $100 million in interest. The last time Russia missed a payment on a foreign loan was in 1918 when Vladimir Ilich Lenin refused to acknowledge the obligations of the ousted tsar’s regime. Moody’s ratings agency revealed that Russia has for the first time … Read more
KARACHI: Moody’s has assigned a B3 rating to the proposed US dollar-denominated trust certificates (Sukuk) issuance by the government of Pakistan, a statement said. The Sukuk will be issued through the Pakistan Global Sukuk Programme Company Limited, a special purpose vehicle, which is wholly-owned by the government and whose debt and trust certificate issuances are, … Read more
KARACHI: Moody’s has assigned a B3 rating to the proposed US dollar-denominated trust certificates (Sukuk) issuance by the government of Pakistan, a statement said on Tuesday. The Sukuk will be issued through the Pakistan Global Sukuk Programme Company Limited, a special purpose vehicle, which is wholly-owned by the government and whose debt and trust certificate … Read more
