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Article: Moody's downgrades Pak's bond ratings amid economic imbalances.
- Article from:
- PTI - The Press Trust of India Ltd.
- Article date:
- May 21, 2008
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Moody's downgrades Pak's bond ratings amid economic imbalances
New Delhi, May 21 (PTI) -- Global rating agency Moody's has downgraded Pakistan's bond ratings in the wake of growing economic imbalances and political uncertainties in that country.
The agency has downgraded Pakistani government's bond ratings in the non-investment grade to B2 from B1 and the foreign currency bank deposit ceiling was also downgraded to B3, Moody's Investors Service said in a statement.
Meanwhile, the outlook on the government's bond ratings and bank deposit ceilings was changed to stable from negative. The stable outlook reflects the prospect of external financial ...