Moody’s Analyses Islamic Corporation for Development of the Private Sector A2 Stable Rating

The A2 Stable Outlook rating assigned to the Islamic Corporation for Development of the Private Sector (ICD) reflects robust liquidity and a high quality treasury portfolio which are offset by weak assets, Moody's Investment Service (Moody’s) said in its annual report.

ICD continued to make losses during the 2019 fiscal year; however, the size of those losses saw significant decline. Capital adequacy was shored up by the second general capital increase, demonstrating consistent shareholder support bolstered by the Islamic Development Bank's dedication to ICD, the report noted.

Analyst at Moody's, Thaddeus Best called the Stable Outlook rating a reflection of the ICD's "balance...