Prime Minister Shehbaz Sharif praised S&P Global’s decision to raise Pakistan’s sovereign credit rating from CCC+ to B-. He called the upgrade a positive sign for the country’s economic reforms. The rating agency also gave Pakistan a stable outlook, reflecting growing confidence in the government’s policies. PM Shehbaz said the move shows that Pakistan is on the path to macroeconomic stability.
The prime minister said his government remains committed to continuing reforms and improving transparency. He stressed the need to deepen investor confidence for long-term success. According to him, early signs of economic recovery must lead to lasting prosperity. This commitment aims to ensure sustainable growth that benefits all Pakistanis.
S&P stated that Pakistan’s fiscal and debt situation has improved due to continued recovery and revenue efforts. The agency expects government financing will help Pakistan meet its external financial obligations. It also highlighted that Pakistan is likely to renew its commercial credit lines over the next year. This positive outlook supports further financial stability in the country.
Alhamdulillah!
S&P’s upgrade of Pakistan’s credit rating from CCC+ to B-, with a stable outlook, is a welcome development. It reflects growing confidence in our economic reforms and the macroeconomic stability we have been able to achieve.
My commendation to the entire economic…
— Shehbaz Sharif (@CMShehbaz) July 25, 2025
After the upgrade, Pakistan’s longer-term international bonds gained value, showing stronger market confidence. Recently, Finance Minister Muhammad Aurangzeb urged Moody’s to improve Pakistan’s rating to ease access to international capital. Moody’s had already upgraded Pakistan in August 2024 due to better economic conditions. Similarly, Fitch raised Pakistan’s rating in April, citing progress in reducing budget deficits.
Overall, this upgrade signals international trust in Pakistan’s economic reforms and recovery. PM Shehbaz’s government promises to sustain this momentum through policy and governance improvements. The rating boost opens doors for more investments and growth opportunities. It marks a hopeful step toward financial stability and prosperity in Pakistan’s future.