Pakistan, July 22 -- Standard & Poor's (S&P) Global has upgraded Pakistan's long-term sovereign credit rating to 'B' from 'B-', citing economic reforms, stronger institutions, and improved foreign reserves. The upgrade is expected to support investor confidence and strengthen Pakistan's access to international financial markets.

According to S&P Global, the rating improvement reflects sustained implementation of reforms under the International Monetary Fund (IMF) programme. The also raised Pakistan's transfer and convertibility assessment to 'B' from 'B-'.

Read more: Fitch affirms Pakistan's credit rating at 'B-' with stable outlook

Moreover, S&P said Pakistan had strengthened institutional capacity over the past two years through crit...