KARACHI - Global rating agency Standard and Poors (S&P) on Monday raised Pakistans credit rating while quoting additional financial support for the country from the International Monetary Fund. Moreover, improved political condition, better ability to meet overseas liabilities and a more stable fiscal situation are cited as the reasons for this up gradation. Technically, the agency raised long-term sovereign credit rating of Pakistan to B- from CCC+. Both B and CCC ratings are regarded as having significant speculative characteristics. The ratings upgrade reflects Pakistans improved external liquidity position, coupled with its successes in implementing corrective policy measures to rectify an unsustainable fiscal trajectory, which evolved amid the political transition and associated instability of the recent past, S&P said in a release. Earlier, the IMF this month increased Pakistans loan package to US$ 11.2 billion, approving an extra US$ 3.2 billion. That impelled Moodys Investors Service last week to raise its outlook on the countrys debt ratings to stable from negative. Moodys rates Pakistans foreign debt at B3, six levels below investment grade and the same ranking as Argentina and Bolivia while it also rats countrys local-currency bonds at the same level. The up gradation will increase the interest of foreign investors in Pakistan, said an economist. It is important to note that overseas investors have bought about net US $40 million of Pakistani stocks since July 1.