Pakistan's foreign exchange reserves are far less than
necessary to cover its imports and external debt obligations
over the immediate and medium term, Moody's noted.
The agency's raised Pakistan's outlook to stable from
negative.
(Reporting by Shreyaa Narayanan; Editing by Savio D'Souza)
Feb 28 (Reuters) - Global ratings agency Moody's cut
Pakistan's sovereign credit rating to 'Caa3' from 'Caa1' on
Tuesday, over the country's increasingly fragile liquidity and
external position.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.