S&P Assigns Islamic Development Bank AAA Rating
Standard & Poors said on 19 December that it added the Islamic Development Bank (IDB) to coverage, assigning its AAA long-term and A-1+ short-term foreign currency counterparty credit ratings. The outlook on the long-term rating is stable. IDBs rating is supported by its very strong capitalization, said Sovereign Analyst Larry Hays. The banks net development-related assets are less than its shareholders...