S&P revises outlook on Pakistan’s long-term ratings to negative

The S&P Global Ratings revised the outlook on Pakistan’s long-term ratings to negative from stable.

“Pakistan’s external position weakens against a backdrop of higher commodity prices, tighter global financial conditions, and a weakening rupee,” the S&P said in a statement on July 28.

The agency said that it could lower its ratings if Pakistan’s external indicators continued to deteriorate, but the outlook could be revised to stable if its external position stabilises and improves.

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