International rating agencies visit Pakistan for annual exercise

ISLAMABAD: International rating agencies Moody’s and Fitch have visited Pakistan for annual credit rating exercise, said a statement issued by ministry of finance on Friday.

Details of the visit and the last five-year rating assigned to Pakistan by these two rating agencies is contained in the write-up below:

Recent interaction of the Ministry of Finance with International Credit Rating Agencies. As part of their animal credit rating exercise, Moody’s and Fitch recently visited Islamabad and held detailed discussions with the Ministry of Finance.

The 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 specific rating advice.

The sovereign credit rating assigned to Pakistan by these two rating agencies in the last five years is:

Moody’s (Rating / Outlook) Fitch (Rating / Outlook) 2015-16 B3 / Stable B/Stable 2016-17 B3 / Stable B/Stable 2017-18 B3 / Negative B/Negative 2018-19 B3 / Negative B-/Stable 2019-2020 Rating exercise ongoing Rating exercise ongoing While conducting their rating reviews, these rating agencies conduct an indepth analysis of a country’s (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.

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