Moody’s gives IBEC Baa3

Moody's Investors Service said it assigned a Baa3 foreign currency long-term issuer rating to the International Bank for Economic Co-operation (IBEC).

The outlook is stable.

“The key drivers of the Baa3 rating are: IBEC's relatively strong capital position which is balanced by weak but improving asset quality; the bank's limited high-quality liquid assets and gradually diversifying funding sources; and IBEC's low strength of member support given the absence of a formal callable capital mechanism,” the agency said in a news release.

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