Moody's Ups Outlook On Four Pakistani Banks' Foreign Currency Deposit Ratings

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Monday, Moody's Investors Service raised its outlook on the B3 long-term foreign currency deposit ratings of four Pakistani banks to stable from negative.

The rating agency changed the outlook of the National Bank of Pakistan, the Habib Bank Ltd., the United Bank Ltd. and the MCB Bank Ltd.

This rating action follows the recent announcement by Moody's sovereign risk group that it has changed the outlook on Pakistan's B3 foreign currency bank deposit ceiling to stable from negative, following the recent augmentation of Pakistan's IMF program by US$3.2 billion to more than US$11 billion, and several ongoing policy and structural reforms.

All four banks' foreign currency deposit ratings remain constrained by this country ceiling, Moody's said.

Monday, Moody's Investors Service raised its outlook on the B3 long-term foreign currency deposit ratings of four Pakistani banks to stable from negative. (Market News Provided by RTTNews)