Results for: Fitch Ratings

Fitch Ratings has upgraded Pakistan’s credit rating to CCC+ from CCC, citing reduced risks from external funding following the country’s securing of a new bailout package from the International Monetary Fund (IMF). The upgrade reflects greater certainty over continued external funding availability, particularly due to Pakistan’s staff-level agreement with the IMF for a new $7 billion Extended Fund Facility (EFF). The rating agency expects Pakistan to secure necessary funding assurances from key bilateral partners, including Saudi Arabia, the UAE, and China, to support the EFF.

Fitch Ratings has affirmed the Export-Import Bank of India’s (EXIM Bank’s) Long-Term Issuer Default Rating (IDR) at ‘BBB-‘ with a stable outlook. This rating reflects EXIM Bank’s high strategic importance to the country and its role in financing India’s international trade. According to Fitch, EXIM Bank’s IDR is driven by its Government Support Rating (GSR) of ‘bbb-‘, which underscores the strong likelihood of extraordinary support from the Indian government if needed.