"Moody" Islamic private sector development are classified at "Aa3" look stable.

09 August 2016 10:04 am

Direct: Moody's credit rating identified in the report, the credit rating of the Islamic Corporation for the development of the private sector at "Aa3," with a stable Outlook.

Moody's attributed in its classification into strength and capital adequacy to compensate poor asset quality, as well as high liquidity with the low cost of funding, as well as the average assessment for the support of contributors as the Islamic Development Bank and Saudi Arabia.

Moody's noted that the enterprise enjoys a strong capital base, and has a low debt level compared to multinational development banks.

Moody's also pointed to the possible deterioration of enterprise debt ratio but slightly over the next few years; for financing expansions to indicate the probability of increasing the proportion of debt payable to half of the total assets in 2017.

Islamic Development Bank owns 47% of enterprise, with Saudi 18%, Islamic Foundation was created for private sector development in November 1999 to support economic growth in Member States, through the provision of financing for private sector projects, promote competition and entrepreneurship, and provide advisory services to Governments, and to encourage international investment.