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Moody's downgrades Pak's banking operations from stable to negative

Global credit rating agency, Moody’s Investors Service has downgraded Pakistan’s outlook for the banking system to negative from stable.

“Over the next 12-18 months, banks in Pakistan will see their credit profiles challenged by their high exposure to the country’s low-rated sovereign debt and a slowing economy,” Dawn quoted Constantinos Kypreos, a senior vice-president at Moody’s, said in a statement.

According to a statement released on Monday, the company noted that the financial operations of the banks in Pakistan would become even more difficult …
Banking Industry News

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