Moody’s assigns B3 rating to Euro bond, sukuk on growth prospects

US credit rating agency Moody’s Investors Service has assigned B3 rating to dollar-denominated senior unsecured notes and sukuk issued by the government to raise $ 2.5Bn, saying continued reforms would help tap robust growth potential. Pakistan’s B3 issuer rating reflects a credit profile that balances robust growth potential and a relatively large economy, against low income levels, infrastructure constraints and very low global competitiveness claimed Moody’s in a statement.