S&P Global Ratings upgrades Pakistan's sovereign credit rating to 'B'

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-’. Sovereign credit ratings are independent assessments evaluating the ability of a government to repay its debt, as well as its...