Current Pakistan credit ratings, according to main rating agencies.

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Rating Agency Rating Outlook Last Update Action
Standard & Poor's B- negative 30 Jul 2022 outlook downgrade
Moody's Investors Service Caa1 negative 7 Oct 2022 rating downgrade
Fitch Ratings CCC+ - 21 Oct 2022 rating downgrade
DBRS - -

Pakistan: Long-term Rating Scales Comparison

Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.

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Grade Description S&P Moody's Fitch DBRS
Investment
Grade
Prime
AAA
Aaa
AAA
AAA
High Medium Grade
AA+
Aa1
AA+
AA(high)
AA
Aa2
AA
AA
AA-
Aa3
AA-
AA(low)
Upper Medium Grade
A+
A1
A+
A(high)
A
A2
A
A
A-
A3
A-
A(low)
Lower Medium Grade
BBB+
Baa1
BBB+
BBB(high)
BBB
Baa2
BBB
BBB
BBB-
Baa3
BBB-
BBB(low)
Speculative
Grade
Speculative
BB+
Ba1
BB+
BB(high)
BB
Ba2
BB
BB
BB-
Ba3
BB-
BB(low)
Highly Speculative
B+
B1
B+
B(high)
B
B2
B
B
B-
B3
B-
B(low)
Substantial Risk
CCC+
Caa1
CCC+
CCC(high)
CCC
Caa2
CCC
CCC
CCC-
Caa3
CCC-
CCC(low)
Extremely Speculative
CC
Ca
CC
CC
C
C
C
C
In Default
RD
/
RD
RD
SD
/
SD
SD
D•NR
D•NR
D•NR
D•NR

Pakistan Credit Ratings historical data

Not enough data.

Timetable of Pakistan credit ratings by S&P, Moody's, Fitch and DBRS agencies.
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.

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Date S&P Moody's Fitch DBRS
21 Oct 2022 CCC+
7 Oct 2022 Caa1
2 Aug 2022 B-
30 Jul 2022 B-
3 Jun 2022 B3
2 Dec 2019 B3
4 Feb 2019 B-
14 Dec 2018 B-
20 Jun 2018 B3
25 Jan 2018 B
31 Oct 2016 B
15 Sep 2015 B
11 Jun 2015 B3
5 May 2015 B-
25 Mar 2015 Caa2
14 Jul 2014 Caa2
13 Jul 2012 Caa2
24 Aug 2009 B-
17 Aug 2009 B3
9 Dec 2008 CCC+
14 Nov 2008 CCC
6 Oct 2008 CCC+
23 Sep 2008 B3
21 May 2008 B3
15 May 2008 B
6 Nov 2007 B+
5 Nov 2007 B2
10 Jul 2007 B+
22 Nov 2006 B1
28 Dec 2005 B+
20 Jan 2005 B2
22 Nov 2004 B+
2 Dec 2003 B
20 Oct 2003 B2
12 Dec 2002 B
13 Feb 2002 B3
29 Oct 2001 Caa1
21 Dec 1999 B-
29 Jan 1999 SD
3 Dec 1998 CC
23 Oct 1998 Caa1
12 Oct 1998 CCC-
14 Jul 1998 CCC
1 Jun 1998 B-
28 May 1998 B3
14 Jan 1998 B+
6 Nov 1996 B2
23 Sep 1996 B1
3 Aug 1995 B+
11 Jul 1995 B1
23 Nov 1994 Ba3
21 Nov 1994 B+

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