ISLAMABAD – Pakistan Long term credit rating has been downgraded on accountof two aspects.
As per media report, Credit rating agency Fitch Ratings has recentlydowngraded Pakistan’s long-term foreign currency issuer default rating byone notch, from B to B-.
In its commentary on the downgrade, Fitch referred to Pakistan’s shrinkingforex reserves and high debt burden among other factors.
The rating downgrade has pushed Pakistan to the lower end of the highlyspeculative grade.
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This downgrade has made many headlines both in Pakistan and abroad. Here weexplain in simple terms what it means for the country and, no lessimportantly, what it doesn’t.
