Moody’s Investors Service Completes Its Periodic Review of ICIEC Ratings

Moody’s Investors Service (Moody’s) has completed a periodic review of the ratings of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). Through this review, Moody's has reassessed the suitability of the ratings in the context of recent developments, the relevant principal methodologies, and also includes a comparison of the financial and operating profile to similarly rated peers.

Ratings Rationale

The review considers ICIEC's Aa3 insurance financial strength rating which indicates the robust ability and possibly strong level of willingness amongst its main shareholders, Islamic Development Bank (IsDB, Aaa) and Saudi Arabia (A1), to provide support in the event of financial distress. ICIEC’s credit...