European Institute of Intelligence Capital in a report published in November this year promoted the long-term foreign currency rating of Export Development Bank (EDB) of Iran from B to +B.
(SHADA: TEHRAN) -- The international credit rating agency, Capital Intelligence, which in its previous report promoted EDB’s long-term foreign currency rating from "B-stable" to "B-positive", in its new report promoted the rating to "+B" from "stable" to "positive". Short-term foreign currency rating of Export Development Bank remained "B".
According to the report, the Export Development Bank’s rating change was due to changes in Iran’s long-term foreign currency rating from "B-positive" to "+B-stable" resulted from the agreements between Iran and the P5+1 on 14 July 2015.
Intelligence Capital also estimates the EDB’s FSA as "-BB-stable". This rate represents the capital adequacy of the bank, the benefit of having access to cheap capital as executor of government policies, good cost management and the improved asset quality standards.
Although conventional liquidity rates have necessary power, the amount of available cash assets will remain at a low level, the institute has noted.
According to the Capital Intelligence’s report, at the end of September 2014 the EDB’s total assets and shareholders’ equity were respectively equivalent to $5.8 billion and $1.6 billion.