Global
Moody’s Downgrades Ratings of 5 Major Pakistani Banks
Five banks in Pakistan had their long-term deposit ratings reduced by Moody’s Investor Service on Friday from Caa1 to Caa3. The banks include United Bank Limited, Habib Bank Ltd., MCB Bank Limited, the National Bank of Pakistan, and Allied Bank Limited. The five banks’ long-term foreign currency counterparty risk ratings (CRRs) were also reduced by…
