S&P upgrade International Investment Bank

S&P said it raised the long-term issuer credit rating on International Investment Bank to A- from BBB+ and affirmed the A-2 short-term rating on the bank.

The agency also removed the ratings from under criteria observation, the agency said.

The outlook is stable, reflecting an expectation that the recent strengthening of the bank's enterprise risk profile will support future expansion and reinforce the bank's role and public policy mandate, S&P said.

The ratings consider the company's moderate enterprise risk profile and very strong financial risk profile, the agency said.

The ratings also do not incorporate any explicit uplift for extraordinary shareholder support in the form of callable capital, S&P said.

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