Moody's Cuts Pakistan's Credit Rating

 

Moody's Corporation, colloquially known as Moody's, is an American business and financial services firm. Moody's Investors Service (MIS), an American credit rating agency, and Moody's Analytics (MA), an American provider of financial analysis software and services, are both part of it.

"Moody's has reduced Pakistan's real GDP growth to 0-1 percent for fiscal 2023 (ending in June 2023) from a 3-4 percent pre-flood estimate." "The floods will influence all sectors, with the agriculture sector, which accounts for about one-quarter of the economy, likely carrying the majority of the damage," it said.