Pakistan Rating: Pakistan Credit Rating

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Rating Moody's Pakistan
Long term RatingShort term Rating
Foreign currencyLocal currencyForeign currencyLocal currency
DateRating(Outlook)DateRatingDateRatingDateRating
2023-02-28Caa3 (Stable)
2022-10-06Caa1 (Negative)
2022-06-02B3 (Negative)
2020-08-08B3 (Stable)
2020-05-14B3 (Under Review)
2019-12-02B3 (Stable)
2018-06-20B3 (Negative)
2017-07-11B3 (Stable)
2015-06-11B3 (Stable)
2015-03-25Caa1 (Positive)
2014-07-14Caa1 (Stable)2023-02-28Caa3
2012-07-13Caa1 (Negative)2022-10-06Caa1
2009-08-17(Stable)2022-06-02B3
2008-12-12B3 (Negative)2020-08-08B3
2008-10-28B3 (Under Review)2020-05-14B3
2008-09-23(Negative)2019-12-02B3
2008-05-21B2 (Stable)2018-06-20B3
2007-11-05(Negative)2017-07-11B3
2006-11-22B1 (Stable)2015-06-11B3
2006-11-08(Under Review)2015-03-25Caa1
2005-01-20(Positive)2014-07-14Caa1
2003-11-15(Stable)2012-07-13Caa1
2003-10-20B22008-12-12B3
2002-02-13B32008-10-28B3
1998-10-23Caa12008-05-21B2
1998-05-28B32006-11-22B1
1996-11-06B22003-10-20B2
1995-07-11B12002-02-13B3
1994-11-23Ba31999-06-25Caa1
Moody's: Long term Rating
Rating S&P Pakistan
Long term RatingShort term Rating
Foreign currencyLocal currencyForeign currencyLocal currency
DateRating(Outlook)DateRatingDateRatingDateRating
2022-12-22CCC+ (Stable)
2022-07-28B- (Negative)2022-12-22CCC+
2019-02-04B- (Stable)2022-07-28B-
2016-10-31B (Stable)2019-02-04B-2022-12-22C2022-12-22C
2015-05-05(Positive)2016-10-31B2012-07-20B2012-07-20B
2009-08-24B- (Stable)2009-08-24B-2008-10-06C2008-10-06C
S&P: Long term Rating
Rating Fitch Pakistan
Long term RatingShort term Rating
Foreign currencyLocal currencyForeign currencyLocal currency
DateRating(Outlook)DateRatingDateRatingDateRating
2023-02-14CCC-2023-02-14CCC-
2022-10-21CCC+2022-10-21CCC+
2020-01-13B-2020-01-13B-2022-10-21C
2019-06-14B-2019-06-14B-2020-01-13B
2018-12-14B-2018-12-14B-2019-06-14B
2018-01-25B (Negative)2018-01-25B2018-12-14B
2017-02-06B (Stable)2017-02-06B2018-01-25B2022-10-21C
2016-07-22B (Stable)2016-07-22B2017-02-06B2020-01-13B
2016-04-12B (Stable)2016-04-12B2016-07-22B2019-06-14B
2015-09-15B (Stable)2015-09-15B2016-04-12B2018-12-14B
0000-00-00CCC0000-00-00CCC2015-09-15B2018-01-25B
Fitch: Long term Rating

GradeMoody'sS&PFitch
PrimeAaaAAAAAA
High gradeAa1AA+AA+
Aa2AAAA
Aa3AA-AA-
Upper medium gradeA1A+A+
A2AA
A3A-A-
Lower medium gradeBaa1BBB+BBB+
Baa2BBBBBB
Baa3BBB-BBB-
Non-investment grade
speculative
Ba1BB+BB+
Ba2BBBB
Ba3BB-BB-
Highly speculativeB1B+B+
B2BB
B3B-B-
Substantial risksCaa1CCC+CCC+
Caa2CCCCCC
Caa3CCC-CCC-
Extremely speculativeCaCCCC
C
In default with little
prospect for recovery
SDRD
In defaultCDD
DD
DDD
Not ratedWRNR
GradeMoodysS&PFitch
High gradeP-1A-1+F1+
Upper medium gradeP-1A-1F1
Lower medium gradeP-2A-2F2
Non-investment grade
speculative
P-3A-3F3
Highly speculativeBB
Extremely speculativeNPCC