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Results for “Moody's” (6)

Alina Hashmi Posted in World

Moody's downgrading of Israel's credit rating dismissed

Israeli Finance Minister Bezalel Smotrich brushed off Moody's downgrading of Israel's credit rating. He said that the decision linked to the Gaza war was not based on sound economic reasoning and was tantamount to a pessimistic "manifesto". "The Israeli economy is strong by all measures. It is capable of sustaining all war efforts, on the front line and home front, until, with God's help, victory is achieved," he said in a response to the decision published on Friday. Read More…

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Alina Hashmi Posted in Business

Chances of Pakistan securing IMF bailout 'dimming': Moody's

Moody's Investors Service warned that Pakistan was at an increased risk of failing to restart its $6.7 billion bailout programme with the International Monetary Fund (IMF). “There are increasing risks that Pakistan may be unable to complete the IMF programme that expires at the end of June," a sovereign analyst at the company, Singapore Grace Lim said. Lim said: “Without an IMF programme, Pakistan could default, given its very weak reserves." Read More…

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Alina Hashmi Posted in Business

Pakistan faces default risk without IMF loan: Moody's

Moody's Investor Service warned that without an International Monetary Fund (IMF) program Pakistan could default as its financing options beyond June are "uncertain". “We consider that Pakistan will meet its external payments for the remainder of this fiscal year ending in June," a sovereign analyst with the rating company in Singapore Grace Lim said. “However, Pakistan’s financing options beyond June are highly uncertain. Without an IMF program, Pakistan could default given its very weak reserves,” he added. Read More…

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Alina Hashmi Posted in Business

Moody’s downgrades Pakistan’s credit rating to ‘Caa3’

Islamabad: Moody's downgraded Pakistan’s local and foreign currency issuer and senior unsecured debt ratings to Caa3 from Caa1. The decision was driven by Moody’s assessment that Pakistan’s increasingly fragile liquidity and external position significantly rose default risks to a level consistent with a Caa3 rating, said a statement. Moody's added that it has also downgraded the rating for the senior unsecured MTN program to (P)Caa3 from (P)Caa1. Read More…

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Alina Hashmi Posted in Business

"Pakistan's external position under significant stress": Moody's

Moody's Investors Service said in a statement that revenue-raising measures would likely be among the prior actions that the International Monetary Fund (IMF) requires before releasing the next tranche of financing to Pakistan. "Pakistan's government liquidity and external vulnerability risks are elevated, and there remain considerable risks around Pakistan's ability to secure required financing to fully meet its needs for the next few years," Moody's said. Read More…

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