Moody’s downgrades Pakistan’s sovereign credit rating

[Che Guevara]

KARACHI: The credit rating agency Moody’s has downgraded Pakistan’s sovereign rating, citing a worsening current account balance, dwindling foreign exchange reserves, and looming payments to the International Monetary Fund.
The New York-based Moody’s – one of the three largest credit rating agencies in the world – downgraded Pakistan’s foreign and local currency bond ratings from B3 to Caa1.
In a note issued on Friday, Moody’s listed four major reasons for the downgrade: “a deterioration in Pakistan’s balance of payments over the past year, the looming large repayments to the IMF, the dwindling level of official foreign-exchange reserves, and the institutional weakness stemming from political instability and constrained government finances.” The ratings agency also issued a negative outlook for the country, meaning that a rating upgrade is unlikely in the medium term.
Standard & Poor’s, the only other global rating agency that assesses Pakistani sovereign risk, has not changed its rating for Pakistan – a B- (equivalent of a B3 from Moody’s) – since August 24, 2009. S&P’s outlook on Pakistan’s rating is stable, which means it is unlikely to downgrade the country anytime soon. Fitch, the third major agency, does not rate Pakistan.

Moody

 

[Fuego]

Moody Cuts Pakistan Credit Rating Deeper Into Junk

 

[Mumbai Man]

why am i not surprised?

 

[Fuego]

why am i not surprised?

May be because you are not in denial mode.

 

[zimmick]

Pakistan should have actually climbed up one level to BB rating instead of going down one level to Caa1. More than Zardari, the Army and Judiciary combined have caused the most damage for the Country. Every opportunity that could have benefitted to Country was mishandled to serve the selfish goals of Army and Judiciary. Incidences starting from the irrational handling of the Kerry Lugar Bill, Memogate, OBL commission and the Salala have caused serious damage to the Country’s interests.
Pakistanis can cheer up by listening to Religious Scholars like Syed Munawar Hasan and Defense Analysts like Maria Sultan, proudly proclaiming that Amreka is Broke or Amreka has lost the war, or to the 5th generation war theory from Zaid Hamid. No one would try to assess if the Country benefitted or lost by supporting terror groups. May be there is a 9-day miracle cure.

 

[Windjammer]

^^^^^^^^^^

An acute case of blind leading blind.

Not the least surprised, since both are typical obsessed Indians.

 

[karan.1970]

Already a thread on this..

http://www.defence.pk/forums/econom...oodys-downgrades-government-bond-ratings.html

 

[AZADPAKISTAN2009]

Worse come to worse we will invade India once the rating hits D ... we won`t have choice we will have to go in steel the Gold just like in old days

I heard Indian Templates have GOLD bullion

 

[Jade]

Worse come to worse we will invade India once the rating hits D ... we won`t have choice we will have to go in steel the Gold just like in old days

I heard Indian Templates have GOLD bullion

I think you mean Indian Temples....

 

[Mumbai Man]

Worse come to worse we will invade India once the rating hits D ... we won`t have choice we will have to go in steel the Gold just like in old days

I heard Indian Templates have GOLD bullion

there is a Kasab in every Pakistani

 

[Rusty]

lol @ internet Hindus.
Once again their IQ is so low that they don't even realize that pointing out negative elements in other countries, while their own country is having the same problem, is not a good idea.
If all these Internet Hindus focused all their blind hate towards helping their own nation, rather then bashing others then maybe India would not be known for poverty and "other" issues.

As for the topic, Everyone is getting downgraded lately so it's not a big deal.
Pakistani elections are coming soon and we can hopefully get a better government in who will help solve alot of these problems.

 

[blackops]

lol @ internet Hindus.
Once again their IQ is so low that they don't even realize that pointing out negative elements in other countries, while their own country is having the same problem, is not a good idea.
If all these Internet Hindus focused all their blind hate towards helping their own nation, rather then bashing others then maybe India would not be known for poverty and "other" issues.


As for the topic, Everyone is getting downgraded lately so it's not a big deal.
Pakistani elections are coming soon and we can hopefully get a better government in who will help solve alot of these problems.

Wtf is a internet hindu are you one of those blind muslims looks like Joe was right eh!

 

[Skull and Bones]

Pakistani elections are coming soon and we can hopefully get a better government in who will help solve alot of these problems.

Hello cyber Jihadi.

That hopefully is the main word, ain't you guys saying the same for the past 60 years?

To change your country's economy, start paying taxes within due dates.

 

[Mumbai Man]

lol @ internet Hindus.
Once again their IQ is so low that they don't even realize that pointing out negative elements in other countries, while their own country is having the same problem, is not a good idea.
If all these Internet Hindus focused all their blind hate towards helping their own nation, rather then bashing others then maybe India would not be known for poverty and "other" issues.

As for the topic, Everyone is getting downgraded lately so it's not a big deal.
Pakistani elections are coming soon and we can hopefully get a better government in who will help solve alot of these problems.

India is known for Many reasons...reasons which you can only dream to be known because of.

Anyways, i can understand the frustration of this loadshedding infested cyber jihadi

 

[ChennaiSKing]

Worse come to worse we will invade India once the rating hits D ... we won`t have choice we will have to go in steel the Gold just like in old days

I heard Indian Templates have GOLD bullion

Well the temple is very close to my native place Kanyakumari called Padmanabhaswamy Temple and houses more then $ 100 billion worth of jewels, you are always welcome to come to try your luck - because we have confident in our ability since we have protected the temple wealth for thousands of years from invaders, and that to against the smart and powerful invader British, we will send you back in coffins (like your Kargil adventure) or drown you in Indian Ocean...

For your information :- the Kingdom of Travancore and it's rulers who are the guardians of the temple have the distinguished privilege of defeating an European Naval (Dutch Navy) force in the eniter Asia which stands a record till today!!! in the Battle of Colachel (was fought on 10 August 1741), and this Kingdom is very few in Asia never ruled by an invader...

Battle of Colachel - Wikipedia, the free encyclopedia

Painting of Eustachius De Lannoy's Dutch Navy Commander Surrender at the Battle of Colachel.