Current Pakistan credit ratings, according to main rating agencies.
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| Rating Agency | Rating | Outlook | Last Update | Action |
|---|---|---|---|---|
| Standard & Poor's | CCC+ | - | 22 Dec 2022 | rating downgrade |
| Moody's Investors Service | Caa3 | - | 28 Feb 2023 | rating downgrade |
| Fitch Ratings | CCC | - | 10 Jul 2023 | rating upgrade |
| 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
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.
Swipe left to see all data
| Date | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|
| 10 Jul 2023 | CCC | |||
| 28 Feb 2023 | Caa3 | |||
| 14 Feb 2023 | CCC- | |||
| 22 Dec 2022 | CCC+ | |||
| 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+ |
