Fitch rates Islamic Development Bank notes AAA

Fitch Ratings said it assigned a AAA rating to Islamic Development Bank's (AAA/stable) $800 million trust certificates due June 26, 2017 issued by IDB Trust Service Ltd. under its $6.5 billion trust certificate issuance program.

The program benefits from a guarantee provided by the Islamic Development Bank.

The trust certificates will take the form of sukuk, a financing instrument compliant with Shariah law, and will be used to finance planned growth in the Islamic Development Bank's operations, according to the agency.

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