Moody’s Affirms ICIEC’s Aa3 IFS Rating and Stable Outlook; Reflects Improvements in Stand-Alone Fundamentals

Moody’s Investors Service (Moody’s) has affirmed the Islamic Corporation for the Insurance of Investment and Export Credit’s (ICIEC) Aa3 insurance financial strength (IFS) rating, with a Stable Outlook.

Ratings Rationale

The affirmation reflects ICIEC’s improvements in stand-alone fundamentals, particularly its credit quality, which has strengthened in recent years. This is bolstered by its growing role as the leading global multilateral export credit and investment insurance corporation that provides Shariah-compliant insurance and reinsurance products. Furthermore, given the corporation’s experience in operating in Organisation of Islamic Cooperation (OIC) member countries, ICIEC has improved its regional knowledge. T...