News

Fitch Ratings-London has revised the ratings of International Bank for Economic Co-operation (IBEC). Long-Term Issuer Default Rating (IDR) was upgraded to ‘BBB’, with Stable outlook. IBEC Short-Term rating has been upgraded to ‘F2’. In the context of the global socio-economic crisis caused by the COVID-19 pandemic, ratings upgrades are extremely rare and atypical for the international financial organizations (IFO). IBEC is only the second IFO to be upgraded by Fitch rating agency since the beginning of 2020.

International Bank for Economic Co-operation acted as a co-organizer of the bond issue of JSC Rosagroleasing, a Russian state-owned leasing company specializing in the development and modernization of the agro-industrial complex. The bonds are placed today, March 3rd, at the Moscow Exchange. The organizers of the placement were Russian Agricultural Bank, Sovcombank, FC Otkritie Bank, International Investment Bank.

International Bank for Economic Co-operation has disclosed its 2020 financial results in accordance with the International Financial Reporting Standards and Ernst&Young auditor’s report.

Denis Ivanov, Chairman of the Board of the International Bank for Economic Co-operation, took part in the opening ceremony of the Ufa International Airport new terminal and in the meeting dedicated to the development of air transportation in the Volga Federal District of the Russian Federation. As a result of the implementation of the project worth 3 billion rubles, the total area and capacity of the air terminal complex of domestic air lines has doubled, the engineering and logistics infrastructure has been updated.