Monday 06, October 2008 by

FC rating on Pakistan lowered to CCC+

Standard & Poor's said it has lowered its long-term foreign currency sovereign credit rating for Pakistan to CCC+ from B and its long-term local currency rating to B- from BB-. At the same time, S&P lowered its short-term rating on the sovereign to C from B. The outlook on the long-term rating is negative.

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