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Index – Economy – Moody’s downgrade of the International Investment Bank

Index - Economy - Moody's downgrade of the International Investment Bank

International rating agency Moody’s Investors Service has withdrawn the International Investment Bank (ICB) rating of long-term issuers and unsecured liabilities. Moody’s has decided to withdraw the ratings for commercial reasons of its own.

On March 2, Moody’s lowered the NBB’s rating from A3 to four consecutive points, which is no longer recommended for investment, and immediately reviewed it with the possibility of a further downgrade.

Founded in 1970, the main activity of the international financial institution NBB is to support small and medium-sized businesses in the member countries of the Bank and to participate in the financing of socially significant infrastructure projects. The headquarters of the International Investment Bank is located in Budapest.

In early March, the Czech Republic, Romania, Slovakia and Bulgaria announced their intention to withdraw from the International Investment Bank.

The index also reported that Fitch has downgraded the international investment bank’s debt ratings. The bank changed its long-term investment loan rating from A to negative with a rating of A. Fitch Ratings has downgraded the bank’s long-term investment loans from A to BBB with a negative outlook and short-term assets from F1 to F2.

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