Fitch upgrades Pakistan’s IDR to CCC from CCC-

Fitch Ratings has upgraded Pakistan’s long-term foreign-currency issuer default rating (IDR) to ‘CCC’ from ‘CCC-‘ due to improvement in the country’s external liquidity following a short-term stand-by agreement with the International Monetary Fund (IMF). In an official statement issued on Monday, the global rating agency said the upgrade reflects Pakistan’s improved external liquidity and funding […]