Moody's ups Pakistan rating from negative to stable

LONDON: Moody's Investors Service said on Monday it has raised its rating outlook for Pakistan to stable from negative after the country received a bigger loan from the International Monetary Fund. "The stable outlook was prompted by the recent augmentation of Pakistan's IMF program by $3.2 billion to more than $11 billion, and several ongoing policy and structural reforms" said Aninda Mitra, Moody's analyst for Pakistan, in a statement. Moody's has a B3 rating on Pakistan's foreign and local currency debt.