Iraqi Islamic Bank for Investment and Development – Ratings Assigned

Ref: IQ01719CRA00-01                                                                                                                                   28 April 2020

Iraqi Islamic Bank for Investment and Development – Ratings Assigned

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has assigned a first-time Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) to Al Janoob Islamic Bank (JIB) of ‘B-’ and ‘B’, respectively. The Outlook for the LT FCR is Stable. At the same time, CI Ratings has assigned to IIB a Bank Standalone Rating (BSR) of ‘b-’ with a Stable Outlook, a Core Financial Strength (CFS) rating of ‘bb-’, and an Extraordinary Support Level (ESL) of Uncertain. CI considers the likelihood of sufficient and timely official support being made available to IIB in…