business
October 28, 2020
Moody’s assigns first-time B3 rating to Wapda
KARACHI: Ratings agency Moody’s has acknowledged the ability of state-owned Pakistan Water and Power Development Authority in honoring its financial obligations that, however it says, is constrained by a shortfall in tariffs collection.Moody’s Investors Service assigned a first-time corporate family rating of B3 to Wapda, driven by an expectation of a very high likelihood of support from, and a very high level of dependence on, the government in times of need."Wapda’s B3 BCA of b3...