S&P trims IIB

S&P said it lowered its long-term foreign- and local-currency issuer credit ratings on the International Investment Bank to BBB+ from A-.

“The downgrade reflects our assessment that IIB's policy relevance is reducing as it downscales its operations to manage the repercussions of the Russia-Ukraine conflict on its operations. These include heightened risks to asset quality; reputation risk from its ownership structure and lending book where Russia holds dominant positions, which has disrupted IIB's access to financial markets; and considerable uncertainty regarding IIB's public policy relevance and its relationship with shareholders,” S&P said in a press release.

The outlook remains negative.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.