Riyadh (AsiaNews/Agencies) - International ratings agencies Standard & Poor's (S&P), Moody's and Fitch Ratings have all awarded Jeddah-based (pictured) Islamic Development Bank (IDB) their highest long-term and short-term credit rating scores, making the bank the most highly-rated institution among regional and international multilateral development banks, and the Muslim world's most highly-rated institution.
As the bank itself noted in a press release, S&P and Fitch gave the IDB an AAA long-term rating, with Moody's awarding it an Aaa long-term rating, representing the highest scores for all three institutions, denoting its "stability," "reliability" and "low credit risk."
In terms of short-term ratings indicating the potential likelihood of an institution defaulting on its debt obligations within a 12-month period, IDB also scored positively, gaining A1+, F1+ and P-I ratings from S&P, Fitch and Moody's, respectively, indicating the bank's "strong" and "superior" ability to meet short-term debt obligations.
All three institutions reiterated their outlook for IDB as stable.
