Moody’s downgraded the outlook of Pakistan’s five largest banks from stable to low while the banks ‘ B3 ratings remained unchanged.
International rating agency Moody’s downgraded the outlook of five major banks of Pakistan from stable to unstable, the B3 rating of banks will be maintained while the risk rating of three banks has been downgraded from B3 to B2.
Moody’s had on June 2 declared Pakistan’s outlook negative from stable, citing external financial risks as the reason for Pakistan’s negative outlook.
Banks whose outlook has been downgraded include Allied Bank (ABL), Habib Bank Limited (HBL), Muslim Commercial Bank (MCB), National Bank of Pakistan (NBP), and United Bank Limited. UBL).
