Moody's downgrades long-deposit ratings of five Pakistani banks

Islamabad [Pakistan], March 5 (ANI): Moody's Investors Service has downgraded the long-term deposit ratings of five Pakistani banks to Caa3 from Caa1, The Express Tribune reported. The ratings of Moody's Investors Service suggest that the ongoing economic crisis in Pakistan is likely to have an adverse trickle-down impact on banks.

The inflation readings are at a historical high of 31.5 per cent in January and the central