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S&P reaffirms AAA rating for the Islamic Development Bank

S&P reaffirms AAA rating for the Islamic Development Bank
Standard & Poor's (S&P) has reaffirmed the Islamic Development Bank's (IDB) 'AAA' rating with a stable outlook; the first AAA rating report on IDB was issued in 2002, according to CPI Financial.
S&P recognized IDB as having an 'extremely strong' financial profile underpinned by robust capitalization and high liquidity levels; as well as a 'very strong' business profile emanating from the Bank's important policy role in promoting social and economic development across member countries and Muslim communities in non-member countries. The report emphasized the strong relationship, extraordinary support and preferred creditor treatment which IDB enjoys from its member countries.
The stable outlook reflects S&P's assessment that the downside risks to the 'AAA' rating are low and that IDB will continue to "meet its mandate without materially damaging its extremely strong balance sheet".
On the occasion, Dr. Ahmad Mohamed Ali, Chairman of the IDB Group, congratulated all member countries, IDB Board Members and the staff for this important achievement on the occasion of the Bank's 40th anniversary. He renewed IDB's pledge to further the goals of the institution and affirmed its commitment to continue its strategic efforts towards development and thus further the development aspirations of its constituencies in accordance with IDB's 1440H Vision.