Fitch affirms Pakistan’s rating at ‘CCC’ with a stable outlook
In its recent rating, US-based credit rating agency Fitch Ratings has chosen to affirm Pakistan’s Long-Term Foreign Currency Issuer Default (IDR) at ‘CCC’. Despite some improvements and the successful revision of the Stand-by Arrangement (SBA) with the International Monetary Fund (IMF), Pakistan continues to face high external financing risks and faces challenges in policy implementation and political stability. “The ‘CCC’ rating reflects high external financing risks amid high medium-term financing requirements, despite Pakistan’s stabilization and strong performance in the current Stand-by Agreement (SBA) with the International Monetary Fund (IMF),” Fitch said in statement issued Wednesday. “We expect elections to be
