Dhaka: Global credit rating agency, Moody's Investors Service has downgraded Bangladesh's long-term issuer and senior unsecured ratings from Ba3 to B1 and reaffirmed short-term issuer ratings at "Not Prime". Moody's disclosed the downgraded rating following a review initiated on December 9, 2022, reports Xinhua news agency. "The rating outlook is stable," the credit rating agency said. Moody's assessment read that Bangladesh's heightened external vulnerability and liquidity risks were persistent, and together with institutional weaknesses uncovered during the ongoing crisis, the sovereign's credit profile is consistent with a B1 rating. Despite some easing, ongoing dollar scarcity and deterioration in foreign exchange reserves indicate continued pressures on Bangladesh's external position, exacerbating import constraints and, as a result, energy shortages.