International Bank for Economic Co-operation Assigned Investment Rating by Fitch
On March 22, 2017, International agency Fitch Ratings assigned to the International Bank for Economic Co-operation investment-grade ratings: long-term BBB-, with a stable outlook, and short-term F3.
The credit rating was received by IBEC for the first time in the Bank’s history. Obtaining of an international investment-grade rating was made possible due to the Bank comprehensive renewal program which has been implemented since the beginning of 2016. This program is based on the IBEC Development Strategy until 2020 which is intended to reinforce IBEC’s position as a multilateral development institution.
Fitch agency highlighted in its press release that the key positive factors in assessing the IBEC were excellent level of its capitalisation and solvency ratios.
Ms. Irina Golovchenko, Chairman of the IBEC’s Board, noted that the assigned international investment-grade rating is a fair estimate of the Bank’s changes. With this rating IBEC will be able to realize new opportunities in the capital markets and systematically perform further steps towards implementation of the Strategy designed to support the economic development of all IBEC’s member countries.