WASHINGTON - Finance Minister Senator Mohammad Ishaq Dar held separate meetings with the representatives of Standard & Poor's and Moody's here in Washington D.C. on Monday. The representatives of the rating agencies appreciated the launch of Pakistan Sovereign Bonds in the international market.

They also appreciated the recent improvement in the economic performance by the present government. The two agencies hinted that if Pakistan continues to improve its economic performance, it is expected that Pakistan's rating would be improved.

Finance Minister informed the representatives of the two agencies about the historic return of Pakistan to the international bond market with a US$ denominated dual tranche offering aggregating $2.0 billion. Finance Minster said that against the initial expectations of raising $500 million, the investor response was very strong across the two tranches, consisting of over 400 orders from high quality investors.