Fitch Affirms IsDB’s Long Term IDR at AAA, with Stable Outlook

Islamic Development Bank (IsDB)’s long-term Issuer Default Rating (IDR) has received affirmation at AAA from Fitch Ratings (Fitch), with a Stable Outlook.

The rating affirmation is based on IsDB’s intrinsic credit quality with Fitch assessing both solvency and liquidity at AAA . Fitch stated that whilst the COVID-19 pandemic will yield negative pressure on asset quality and capitalisation, the overall impact on IsDB’s credit profile will remain limited. Although solvency metrics are anticipated to deteriorate slightly, Fitch expects that these metrics will remain at a level consistent with IsDB’s long-term IDR of AAA.

Given that AAA is the highest rating leve...