International Development Bank for Investment & Finance - Ratings Assigned

Overview

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 International Development Bank for Investment and Finance (IDB) of 'B-' and 'B', respectively. The Outlook for the LT FCR is Stable. At the same time, CI Ratings has assigned to IDB 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 IDB in the event of financial distress to be uncertain and, consequently, does not incorporate such support into the Bank's LT FCR. Moreover, even if the government may be willing to provide extraordinary support in case of need, its financial capacity to do so is limited as indicated by our internal assessment of Iraq sovereign credit risk.

CI has also assigned IDB 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.

Attachments

• Rating Announcement (CRA)
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• Bank Rating Report (Iraq, International Development Bank for Investment & Finance)
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