Pakistan credit rating upgraded to B by S&P Global

S&P Global Ratings has upgraded Pakistan’s long-term sovereign credit rating from B- to B, marking a significant shift after nearly nine years. The agency maintained a stable outlook for the country, citing improvements in institutional capacity and progress in implementing essential economic reforms.

The upgrade follows a period of severe economic pressure during which Pakistan’s rating had previously fallen to CCC+ in late 2022. This move suggests the nation is moving away from the acute financial risks that had concerned international lenders and investors.