Moody's noted a number of positive developments in its credit opinion that have had a positive impact on the institutional development and the operational activities of the IIB this year. In May, 2017, Moody's upgraded IIB's rating outlook to positive from stable and affirmed IIB's Baa1 issuer and debt ratings. In addition to the Moody's Baa1 rating (outlook "positive"), IIB has been assigned ratings of BBB with a stable outlook from S&P and Fitch, as well as an A rating from the Chinese rating agency Dagong (outlook stable). "The Moody's opinion confirms the financial stability and the operational efficiency of the Bank. I would like to express my gratitude to the Agency for its positive evaluation of our efforts aimed at enhancing the role of the IIB as an effective multilateral financial institution, which operates in the interests of sustainable development of the economies of its shareholders,", chairman of the IIB board Kosov said in a statement.