February 4, 2019 / 5:26 AM / 4 months ago

S&P cuts Pakistan's credit rating to 'B-' from 'B'; maintains stable outlook

Feb 4 (Reuters) - S&P Global Ratings said on Monday it lowered Pakistan’s sovereign credit rating to ‘B-‘ from ‘B’, citing diminished growth prospects, as well as elevated external and fiscal stresses.

S&P maintained Pakistan’s rating outlook at ‘stable’.

Fitch in December had downgraded Pakistan’s long-term foreign currency issuer default rating to ‘B-‘ from ‘B’, while giving the sovereign a ‘stable’ outlook. (Reporting by Shubham Kalia in Bengaluru; Editing by Subhranshu Sahu)

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