Fitch Rates Iraq's KIIB Bank 'CCC+'

By John Lee.

Fitch Ratings has assigned the Kurdistan International Islamic Bank (KIIB) a Long-Term Issuer Default Rating (IDR) of 'CCC+', and Viability Rating (VR) at 'ccc+'.

It says the rating reflects the bank's "weak franchise, unstable business model and operations in the highly volatile operating environment of Iraq".

More here.

(Source: Fitch Ratings)

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