A global credit rating agency Moody's Ratings (Moody's) has upgraded the issuer rating of the Trade and Development Bank JSC (TDB) by one-notch to B2.
Furthermore, the rating agency uplifted the long-term foreign currency and local currency deposit ratings of TDB to B2 from B3, long-term foreign currency CRR to B2 from B3, and foreign-currency senior unsecured MTN program rating to (P)B2.At the same time, all other financial indicators of the TDB were affirmed and the outlook remained “stable.”
This improvement in the credit rating of TDB has many positive implications, such as increased foreign investment, reduced cost of funds from abroad, more access to international capital markets, ultimately offering confidence and comfort for TDB’s counterparties, including clients, partners, and investors.