Moody's: Pakistan ratings constrained

Moody's Investors Service said it published its 2010 sovereign report on Pakistan, which provides a methodological assessment of the country's B3 foreign- and local-currency issuer rating.

The outlook is stable.

The ratings consider Pakistan's low-income and savings-constrained economy, which is buffeted by large supply-side shocks, Moody's said.

The ratings also reflect weakening governance and rising internal violence, which has limited policy effectiveness, the agency said.

The stable outlook considers the adequacy of Pakistan's foreign-currency reserves and its manageable domestic borrowing program, albeit with a continued reliance on deficit monetization, Moody's said.

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