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Fitch Upgrades Pakistan Credit Rating on Better External Funding

Fitch Ratings raised Pakistan’s credit rating, citing reduced risks from external funding after it secured a new bailout from the International Monetary Fund. Fitch upgraded Pakistan to CCC+ from CCC, suggesting while the nation remains below investment grade, there is a lower chance of a default now. The previous IMF bailout “helped the country narrow fiscal deficits and rebuild foreign …

Pakistan Ccc External Funding

Fitch revises Egypt’s outlook to positive on reduced external financing risks

May 3 - Global ratings agency Fitch revised Egypt's outlook to positive from stable on Friday. The agency affirmed Eygpt's rating at 'B-', citing reduced external financing risks and stronger foreign direct investment. The IMF's loan programme with Egypt should help the country gradually reduce its debt burden, an IMF official said last month. After the investment in the country's …

Reduced External

Pakistan, reeling from its worst economic crisis, may be looking a silver lining as Fitch credit rating agency upgraded Pakistan's default rating to CCC from CCC-. Pakistan faces some $23 billion of external debt obligations coming due in the fiscal year starting July — more than five times the nation’s foreign-exchange reserves. Pakistan secured a badly needed $3 billion stand-by …

External

The beleaguered Pakistani economy faces substantial credit risks with "critically low levels” of foreign exchange reserves, New York-based global ratings agency Fitch said on Tuesday, warning that a default is a "real possibility." The downgrade reflected a sharp deterioration in external liquidity and funding conditions, along with decline of foreign exchange reserves to “critically low levels," Fitch said. Fitch said …

Fitch Ratings on Tuesday affirmed India's sovereign credit rating at 'BBB-' with a stable outlook, saying the rating derives strengths from the country's robust growth outlook and still-resilient external finances. It said India's robust medium-term growth outlook is a key supporting factor for the rating. Nevertheless, risks remain given dynamics in labour force participation, the lagging rural sector recovery, and …

India's Forex Buffers Sufficient, Limited Risks to Sovereign Rating from External Pressures: Fitch

India’s external buffers are sufficient to cushion risks associated with rapid monetary policy tightening in the US and high global commodity prices, and risk to the sovereign rating from external pressure is limited, Fitch Ratings said on Wednesday. “India’s external buffers appear sufficient to cushion risks associated with rapid monetary policy tightening in the US and high global commodity prices,” …

Fitch Ratings on Tuesday reaffirmed its lowest investment grade sovereign rating for India with negative outlook holding that the country’s rating balances a still-strong medium-term growth outlook and external resilience from solid foreign-reserve buffers, against high public debt, a weak financial sector and some lagging structural issues. However, the negative outlook on the rating reflects lingering uncertainty around the medium-term …

Ratings agency Fitch on Monday revised its outlook on Saudi Arabia to negative from stable, citing weakening fiscal and external balance sheets, but maintained its core 'A' rating. The world's top oil exporter, whose finances have been hurt by the coronavirus pandemic and lower crude prices, could see its budget deficit widen to 12.8% of GDP this year from 4.5% …