Iraqi Islamic Bank for Investment and Development – Ratings Affirmed

Iraqi Islamic Bank for Investment and Development – Ratings Affirmed

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed Iraqi Islamic Bank for Investment and Development’s (IIB) L ong- T erm F oreign Currency Rating (LT F CR ) and Short-Term Foreign Currency Rating ( ST FCR ) of ‘B-’ and ‘B’, respectively. The Outlook for the LT FCR remains Stable. CI Ratings has also affirmed IIB’s B ank Standalone Rating (B SR ) of ‘b-’ with a Stable Outlook, C ore F inancial S trength (CFS) rating of ‘bb-’, and Extraordinary Support Level ( ESL ) of Uncertain.

At the same time, CI has affirmed IIB’s Long- and Short-Term Ratings on the Iraq National Scale of ‘iqBBB+’ and ‘iqA2’, respectively, with a Stable Outlook. These are supported and constrained by the same factors as the CFS as outlined below.

The Bank’s LT FCR and BSR are derived from a CFS rating of ‘bb-’ and…