S&P Global Ratings on Wednesday upgraded Pakistan’s long-term sovereign credit rating to ‘B’ from ‘B-’, citing an improving external position and gradual macroeconomic stabilisation, while assigning a stable outlook. The agency also affirmed the country’s short-term sovereign credit rating at ‘B’ and raised its transfer and convertibility assessment to ‘B’ from ‘B-’. A country’s sovereign credit rating serves as an indicator of its financial health for foreign investors. It assesses creditworthiness — the risk involved in lending money to the country, evaluated by its ability to repay its debts. Upgrading this rating gives global lenders greater confidence in the economy, helping the country attract foreign investment and borrow funds on better terms. In a statement, the credit rating agency…

Source: Dawn – Latest News

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