--- title: "Moody's upgrades Pakistan's credit rating to B3" description: "Most outlets led with the announcement of Moody's credit rating upgrade for Pakistan, highlighting the improved governance and economic stabilisation as key reasons. Business Recorder provided additional context, noting the upgrade to B3 from Caa1 and attributing it to stronger external buffers and sustained macroeconomic stabilisation. Dunya News focused on the Prime Minister’s public response, quoting him on the government’s role in stabilising the economy." url: https://harzaviya.com/stories/4518-moody-s-upgrades-pakistan-s-rating-to-b3-maintains-stable site: HarZaviya language: en --- # Moody's upgrades Pakistan's credit rating to B3 business · latest filing 25 Aug 2026, 7:57 PM PKT · 24–25 Aug 2026 · 23 articles from 16 outlets over 2 developments ## How it developed Newest development first. Each carries its own coverage and, where we have one, our summary of it. ### 25 Aug 2026 — Moody's upgrades Pakistan's credit rating to B3 (4 outlets) > Most outlets led with the announcement of Moody's credit rating upgrade for Pakistan, highlighting the improved governance and economic stabilisation as key reasons. Business Recorder provided additional context, noting the upgrade to B3 from Caa1 and attributing it to stronger external buffers and sustained macroeconomic stabilisation. Dunya News focused on the Prime Minister’s public response, quoting him on the government’s role in stabilising the economy. - **The Express Tribune** — [Credit rating upgrade](https://tribune.com.pk/story/2625838/credit-rating-upgrade-1) · 25 Aug 2026, 7:57 PM PKT > Pakistan's credit rating continues to steadily improve - **Associated Press of Pakistan** — [Moody’s upgrade signals growing global confidence in Pakistan’s economic direction, says RCCI President](https://www.app.com.pk/business/moodys-upgrade-signals-growing-global-confidence-in-pakistans-economic-direction-says-rcci-president/) · 25 Aug 2026, 1:07 PM PKT · 74% identical wording to the newest filing > RAWALPINDI, Aug 25 (APP):President of the Rawalpindi Chamber of Commerce and Industry (RCCI), Usman Shaukat, has welcomed Moody’s Ratings’ decision to upgrade Pakistan’s sovereign credit rating from Caa1 to B3, terming it an encouraging sign of growing international confidence in the country’s economic policies and reform agenda. In a statement on Tuesday, RCCI President Usman... This post Mood... - **Business Recorder** — [Moody’s upgrades rating to B3 on governance](https://www.brecorder.com/news/40436402/moodys-upgrades-rating-to-b3-on-governance) · 25 Aug 2026, 4:59 AM PKT · 75% identical wording to the newest filing > ISLAMABAD: Moody’s Ratings (Moody’s) has upgraded Pakistan’s sovereign credit rating to B3 from Caa1, a four-year high, citing improved governance, stronger external buffers and sustained macroeconomic stabilisation, while retaining a stable outlook. The rating agency stated the upgrade to B3 reflects its expectations that improvements in governance will allow the government to sustain the rece... - **Dunya News** — [PM greets nation on Moody's upgrading of Pakistan's credit rating](https://dunyanews.tv/en/Business/969580-pm-greets-nation-on-moodys-upgrading-of-pakistans-credit-rating) · 25 Aug 2026, 3:58 AM PKT · 79% identical wording to the newest filing > He said, “The government has taken effective steps to stabilize the economy.” ### 24 Aug 2026 — Moody’s upgrades Pakistan’s sovereign credit rating to B3 from Caa1 (15 outlets) > Most outlets reported that Moody’s upgraded Pakistan’s sovereign credit rating to B3 from Caa1, citing factors such as macroeconomic stabilization, improved governance, and reduced external vulnerability risks. A few, including The Express Tribune, also noted the continued challenges such as weak rule of law and corruption. Some headlines and excerpts highlighted Prime Minister Shehbaz Sharif’s public response, while others focused solely on the technical aspects of the rating change. The stable outlook was consistently mentioned across the coverage. - **The Express Tribune** — [Moody's upgrades Pakistan rating](https://tribune.com.pk/story/2625691/moodys-upgrades-pakistan-rating) · 25 Aug 2026, 12:04 AM PKT - **Daily Times** — [PM Shehbaz hails Moody’s upgrade of Pakistan](https://dailytimes.com.pk/1543177/pm-shehbaz-hails-moodys-upgrade-of-pakistan/) · 24 Aug 2026, 9:03 PM PKT · 81% identical wording to the newest filing > Prime Minister Shehbaz Sharif has welcomed Moody’s decision to improve Pakistan’s sovereign credit rating. He said the upgrade reflects growing international confidence in Pakistan’s economic policies. The prime minister also praised the government’s economic team for its efforts. Shehbaz said Deputy Prime Minister Ishaq Dar and Field Marshal Syed Asim Munir deserved appreciation. He credited […] - **Abb Takk News** — [PM congratulates nation on Moody’s upgrade of Pakistan’s credit rating to B3](https://abbtakk.tv/pm-congratulates-nation-on-moodys-upgrade-of-pakistans-credit-rating-to-b3/) · 24 Aug 2026, 7:08 PM PKT · 78% identical wording to the newest filing > ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif extended his congratulations to the Pakistani people following Moody’s decision to upgrade the country’s sovereign credit rating from CAA1 to B3. In his statement, he expressed his appreciation for this positive development, emphasizing that it signifies growing international confidence in Pakistan’s economic policies and... The post PM congratu... - **24 News HD** — [PM Shehbaz welcomes Moody’s upgrade of Pakistan rating to B3](https://www.24newshd.tv/24-Aug-2026/pm-shehbaz-welcomes-moody-s-upgrade-pakistan-rating-b3) · 24 Aug 2026, 6:02 PM PKT · 80% identical wording to the newest filing > Prime Minister Shehbaz Sharif on Monday congratulated the nation on Moody’s decision to upgrade Pakistan’s sovereign credit rating from Caa1 to B3, calling it a reflection of growing international confidence in the government’s economic policies and reforms. - **Hum News English** — [Moody’s upgrades Pakistan’s credit rating to B3 from Caa1](https://humenglish.com/latest/moodys-upgrades-pakistans-credit-rating-to-b3-from-caa1/) · 24 Aug 2026, 5:34 PM PKT · 85% identical wording to the newest filing > ISLAMABAD: Global ratings agency Moody’s on Monday upgraded Pakistan’s sovereign credit rating to B3 from Caa1, citing improvements in governance, the country’s external position and fiscal metrics, while maintaining a stable outlook. The upgrade marks another positive assessment of Pakistan’s improving macroeconomic stability and debt affordability after a period of severe external and fiscal ... - **ARY News (English)** — [Moody’s upgrades Pakistan’s credit rating, cites governance improvements](https://arynews.tv/moodys-upgrades-pakistans-credit-rating-cites-governance-improvements) · 24 Aug 2026, 5:10 PM PKT · 91% identical wording to the newest filing - **Pakistan Observer** — [Pakistan’s Economic comeback gets Moody’s Nod with B3 Upgrade](https://pakobserver.net/pakistans-economic-comeback-gets-moodys-nod-with-b3-upgrade/) · 24 Aug 2026, 4:55 PM PKT · 82% identical wording to the newest filing > Pakistan gets a boost to its economic standing as Moody’s Ratings upgraded the country’s sovereign credit rating to B3 from… - **Geo News** — [Moody's improves Pakistan's sovereign credit rating to B3 from Caa1](https://www.geo.tv/latest/678971-moodys-improves-pakistans-sovereign-credit-rating-to-b3-from-caa1) · 24 Aug 2026, 4:53 PM PKT · 83% identical wording to the newest filing > Signage is seen outside the Moody's Corporation headquarters in Manhattan, New York, US, November 12, 2021. — ReutersPakistan's foreign-exchange reserves steadily increased: Moody’s.Ratings agency says country's external vulnerabilities have eased. PM Shehbaz hails... - **Dunya News** — [Moody's raises Pakistan credit rating to B3 on stronger economic footing](https://dunyanews.tv/en/Business/969499-moodys-raises-pakistan-credit-rating-to-b3-on-stronger-economic-footi) · 24 Aug 2026, 4:49 PM PKT · 85% identical wording to the newest filing > Moody’s raised Pakistan’s sovereign rating to B3 from Caa1, highlighting stronger governance, reduced external pressures and improved debt affordability while retaining a stable outlook. - **Daily Pakistan (English)** — [Pakistan’s Credit Rating Upgraded to B3 as Moody’s sees Economic Recovery](https://en.dailypakistan.com.pk/24-Aug-2026/pakistans-credit-rating-upgraded-to-b3-as-moodys-sees-economic-recovery) · 24 Aug 2026, 4:21 PM PKT · 84% identical wording to the newest filing > Pakistan’s economic recovery gets another major international vote of confidence as Moody’s upgraded the country’s sovereign credit rating to B3 from Caa1, while keeping the outlook stable. The latest upgrade shows major improvement in Pakistan’s credit profile, with Moody’s highlighting better governance, stronger external finances and reduced vulnerability to external shocks. The ratings agen... - **Business Recorder** — [Moody's upgrades Pakistan's rating to B3; maintains stable outlook](https://www.brecorder.com/news/40436306/moodys-upgrades-pakistans-rating-to-b3-maintains-stable-outlook) · 24 Aug 2026, 4:20 PM PKT · 83% identical wording to the newest filing > Moody’s Ratings (Moody’s) on Monday upgraded the Government of Pakistan’s local and foreign currency issuer and senior unsecured debt ratings to B3 from Caa1. “We have also upgraded the rating for the senior unsecured MTN programme to (P)B3 from (P)Caa1. Concurrently, we maintained the outlook for the Government of Pakistan at stable,” the credit rating agency said. Last year in August, Moody’s... - **Dawn** — [Moody's lifts Pakistan sovereign rating to B3 from Caa1, cites governance improvement and easing of external risk](https://www.dawn.com/news/2024988/moodys-lifts-pakistan-sovereign-rating-to-b3-from-caa1-cites-governance-improvement-and-easing-of-external-risk) · 24 Aug 2026, 4:07 PM PKT · 82% identical wording to the newest filing > Global ratings agency Moody’s lifted Pakistan’s sovereign rating to ‘B3’ from ‘Caa1’ on Monday, citing improvements in governance and easing external vulnerability risks. The agency maintained the country’s outlook at ‘stable’. “We expect the recent improvement in Pakistan’s debt affordability to be durable, underpinned by sustained macroeconomic stability,” the agency said in a statement. The ... - **ProPakistani** — [Moody’s Upgrades Pakistan’s Credit Rating To B3 From Caa1, Outlook Stable](https://propakistani.pk/2026/08/24/moodys-upgrades-pakistans-credit-rating-to-b3-from-caa1-outlook-stable/) · 24 Aug 2026, 4:04 PM PKT · 83% identical wording to the newest filing > Moody’s Ratings has upgraded Pakistan’s long term foreign and local currency debt ratings by two notches to B3 from Caa1,… Read More The post Moody’s Upgrades Pakistan’s Credit Rating To B3 From Caa1, Outlook Stable appeared first on ProPakistani. - **BOL News** — [Moody’s upgrades Pakistan’s credit rating to B3, keeps outlook at stable](https://www.bolnews.com/business/moodys-upgrades-pakistans-credit-rating-to-b3-citing-improved-governance-and-external-position/) · 24 Aug 2026, 3:53 PM PKT · 83% identical wording to the newest filing > SINGAPORE: Moody’s Ratings has upgraded Pakistan’s local and foreign currency issuer ratings to B3 from Caa1, citing sustained macroeconomic stabilization and a material improvement in the country’s debt affordability and external position. The outlook for the sovereign remains stable. The upgrade, announced Monday, reflects the ratings agency’s view that improvements in governance will enable ... - **Arab News Pakistan** — [Moody’s lifts Pakistan sovereign rating on ‘macroeconomic stabilization’](https://www.arabnews.pk/node/2655702/pakistan) · 24 Aug 2026, 4:08 AM PKT · 84% identical wording to the newest filing > Global ratings agency Moody’s lifted Pakistan’s sovereign rating to ‘B3’ from ‘Caa1’ on Monday, citing improvements ​in governance and easing “external vulnerability risks.” The move comes just a month after peer S&P upgraded the nation on the back of “strong institutional stability” and effective implementation of reforms under an International Monetary Fund (IMF) program. “We expect the r... ## Part of a bigger story Other stories whose coverage resembles this one, nearest first. "% related" compares whole stories, not single articles — see [what the percentages mean](https://harzaviya.com/methodology). - [S&P upgrades Pakistan's credit rating to 'B' with stable outlook](https://harzaviya.com/stories/600-s-p-upgrades-pakistan-s-credit-rating-to-b-with-stable) · 24 Jul 2026 · 2 outlets · 90% related - [Fitch assigns rating to Pakistan’s proposed dollar bond](https://harzaviya.com/stories/5903-fitch-assigns-b-rating-to-pakistan-s-proposed-us-dollar-bond) · 2 Sep 2026 · 3 outlets · 79% related - [German envoy praises Pakistan's economic developments after recent upgrade](https://harzaviya.com/stories/4745-german-envoy-lauds-progress-made-by-pakistan-on-economic) · 26 Aug 2026 · 2 outlets · 70% related 23 articles from 16 outlets, 24–25 Aug 2026. Headlines and links belong to their outlets — HarZaviya links out and never copies article text. --- HarZaviya compares how Pakistani outlets cover the same story. 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