Islamic Development Bank’s Sukuk and Long-Term IDR Affirmed at AAA with a Stable Outlook: Fitch 

Fitch Ratings (Fitch) has affirmed Islamic Development Bank’s (IsDB) Long-Term Issuer Default Rating (IDR) at ‘AAA’ with a Stable Outlook, and Short-Term IDR at ‘F1+’. In addition, Sukuk issued by IDB Trust Services and IsDB Trust Services No.2 SARL have been affirmed at ‘AAA’.

Ratings Rationale

IsDB’s Long-Term IDR affirmation is driven by its Standalone Credit Profile (SCP), with solvency and liquidity assessed at ‘aaa’. The Stable Outlook reflects Fitch’s expectation that the SCP will withstand negative effects of the COVID-19 pandemic and economic crisis. In addition, a large increase in the bank’s paid-in capital is anticipated to support a rise in financing volumes over the...