|
Moody's assigns definitive B3 rating to Pakistan's global bond offering
[DAWN] Moody's Investors Service has assigned a definitive rating of B3 to Pakistain's global bond offering."The outlook is stable" said a Moody statement issued on Friday. Moody's definitive ratings for these debt obligations confirm the provisional ratings assigned on September 18, 2015. The Moody statement said that Pakistain's B3 issuer rating reflects moderate economic strength with a supply-constrained economy that has been resistant to structural change, Moody's reported. Although the scale of the economy is relatively large, globally, Pakistain's per-capita income level is relatively very low. Moody's Global Long-Term Rating Scale Aaa Obligations rated Aaa are judged to be of the highest quality, subject to the lowest level of credit risk. Aa Obligations rated Aa are judged to be of high quality and are subject to very low credit risk. A Obligations rated A are judged to be upper-medium grade and are subject to low credit risk. Baa Obligations rated Baa are judged to be medium-grade and subject to moderate credit risk and as such may possess certain speculative characteristics. Ba Obligations rated Ba are judged to be speculative and are subject to substantial credit risk. B Obligations rated B are considered speculative and are subject to high credit risk. Caa Obligations rated Caa are judged to be speculative of poor standing and are subject to very high credit risk. Ca Obligations rated Ca are highly speculative and are likely in, or very near, default, with some prospect of recovery of principal and interest. C Obligations rated C are the lowest rated and are typically in default, with little prospect for recovery of principal or interest. Posted by: Fred 2015-10-04 |
| http://www.rantburg.com/poparticle.php?ID=431422 |