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Moody’s Lowers Pakistan Outlook to Negative Over IMF Delay
- Affirms B3 rating, cites external vulnerability risk rising
- IMF deal will provide a relief to deteriorating finances
A market in Rawalpindi, Pakistan.
Photographer: Asad Zaidi/BloombergThis article is for subscribers only.
Moody’s Investors Service downgraded its outlook on Pakistan to negative from stable, citing financial concerns that includes a delay in the revival of International Monetary Fund’s bailout.
The rating agency’s decision is driven by Pakistan’s heightened external vulnerability risk and uncertainty around its ability to secure additional external financing to meet its needs, Moody’s said in a statement. It left the credit assessment for the nation at B3, a junk rating.