Fitch gives B- to Pakistan sukuk

Fitch Ratings said it assigned Pakistan's proposed U.S. dollar-denominated sovereign global sukuk certificates, which will be issued through the Pakistan Global Sukuk Programme Co. Ltd., a B- rating.

The rating is sensitive to any changes in Pakistan's long-term foreign-currency issuer default rating, which Fitch affirmed at B- with a stable outlook in May 2021.

The certificates' rating is driven solely by Pakistan's IDR. This reflects Fitch's view that a default of these senior unsecured obligations would reflect a default of Pakistan, in accordance with Fitch's rating definitions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.