Moody's upgrades foreign currency rating of Iceland to Aaa

NOTE: This article is from 23. October 2002 and is therefore more than 5 years old.

Moody's Investors Service yesterday raised the foreign currency countryceiling for Iceland for bonds and bank deposits to its highest rating Aaa, upfrom Aa3. This follows a 2001 change in Moody's methodology for analysingcountry ceilings. Foreign currency bonds issued or guaranteed by the governmentof Iceland are now rated at the same Aaa level as its local currency debt.

For more information on this matter see Moody's Investors Service'sweb site:

15/2002

October 22, 2002