PM Shehbaz welcomes moody’s upgrade of Pakistan’s credit rating to Caa1

Prime Minister Muhammad Shehbaz Sharif on Wednesday expressed satisfaction over the global rating agency Moody’s decision to raise Pakistan’s credit rating from Caa2 to Caa1, commending his economic team for their efforts.

The prime minister also welcomed Moody’s revised economic outlook for Pakistan, upgraded from “positive” to “stable,” according to a statement from the PM Office Media Wing.

He reiterated that his government’s team was committed to achieving further improvements in the rating, describing it as evidence that the country’s economic policies were moving in the right direction.

According to its official website, Moody’s Ratings issues credit ratings and conducts assessments on a broad spectrum of debt obligations, programmes, facilities, and issuing entities worldwide. These include ratings for corporate, financial institution, and government obligations, as well as structured finance securities.