ISLAMABAD: Ministry of Finance and International Credit Agencies Moody’s and Fitch officials recently held in-depth discussion about current Pakistan’s economic condition.
According to the details, as part of their annual rating exercise, Moody’s and Fitch recently visited Pakistan and held detailed discussions with the Ministry of Finance. Government of Pakistan has been maintaining relations with Moody’s since 1994 and with Fitch since 2015 for sovereign as well as Eurobonds and international Sukuk rating advice.
The sovereign credit rating assigned to Pakistan by these two rating agencies in the last five years is:
In 2015-16 Mood’s assigned B3/stable and Fitch assigned B/stable outlook/rating to Pakistan.
In 2016-17 Moody’s assigned B3/stable and Fitch assigned B/stable outlook/rating to Pakistan.
In 2017-18 Moody’s assigned B3/negative and Fitch assigned B negative outlook/rating to Pakistan.
In 2018-19 Moody’s assigned B3/negative and Fitch assigned B-/stable outlook/rating to Pakistan.
For Fiscal Year 2019-20 Moody’s and Fitch rating exercise still ongoing.
While conducting their rating reviews, these rating agencies conduct an in-depth analysis of a country (i) macroeconomic situation and outlook (ii) competitiveness and reforms agenda (iii) fiscal and revenue developments (iv) debt sustainability (v) monetary regime and foreign exchange reserves positions and (vi) political climate and the law and order situation.
