Pakistan, Jan. 22 -- Fitch Ratings has reaffirmed Pakistan's long-term debt rating at 'B-' and assigned a Recovery Rating of 'RR4'. The move follows the removal of the country from Under Criteria Observation. Fitch said the action reflects its revised Sovereign Rating Criteria, effective September 2025.

The RR4 recovery rating indicates an average recovery expectation in case of default, with the 's scale ranging from RR1 (outstanding) to RR6 (poor). Fitch also equalized Pakistan's senior unsecured long-term debt and The Pakistan Global Sukuk Programme Company Ltd ratings with the country's long-term foreign-currency issuer default rating.

Read more: Fitch affirms Pakistan's long-term debt ratings at B

Fitch cited Pakistan's high gover...