# Pakistan sovereign credit rating upgrade

> Live situation record from CLSTR: https://clstr.news/situations/pakistan-sovereign-credit-rating-upgrade
> Updated: 2026-08-18T17:15:58.000Z. Sources: 7. Developments: 2.

S&P Global Ratings upgraded Pakistan’s long-term sovereign credit rating from B- to B, maintaining a stable outlook. The agency attributed this change, the first such shift in nearly nine years, to improvements in institutional capacity and the implementation of essential economic reforms. This upgrade follows a period of intense economic pressure that saw the nation’s rating drop to CCC+ in late 2022.

## Timeline

### 2026-08-18: 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 with a stable outlook, citing improved institutional capacity and economic reform progress.

2 sources. https://clstr.news/cluster/pakistan-credit-rating-upgraded-to-b-by-sp-global

### 2026-08-11: Fitch affirms India's 'BBB-' sovereign rating with stable outlook

Fitch Ratings affirmed India’s ‘BBB-’ sovereign rating with a stable outlook, forecasting 6.4% GDP growth for FY27 driven by public spending and private investment recovery.

5 sources. https://clstr.news/cluster/fitch-affirms-indias-bbb-sovereign-rating-with-stable-outlook

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Cite as: Pakistan sovereign credit rating upgrade. CLSTR, https://clstr.news/situations/pakistan-sovereign-credit-rating-upgrade