S&P confirms improvement in Pakistan's sovereign ratings

 The US rating agency Standard & Poor's (S&P) has confirmed the stability and improvement in Pakistan's sovereign ratings. In its statement, S&P termed Pakistan's sovereign ratings as a "B" category and said that Pakistan's long-term and short-term sovereign ratings are "B" and long-term ratings are stable.

Standard & Poor's also confirmed Pakistan's Sukuk certificate, saying that the coronavirus has put pressure on the Pakistani economy. Prior to the outbreak, the Pakistani government had taken strong economic measures to control the epidemic. And the chain of reforms will be restored.

S&P further said that in case of balance in external economic and financial payments, Pakistan's ratings are likely to further improve and increase. By maintaining balance, external payments can be met for the next year.