On February 14, Moody´s Investors Service issued its credit opinion for the Republic of Iceland; Aaa for long-term obligations in foreign and domestic currency and P-1 for short-term obligations in foreign and domestic currency. Outlook is stable.
Please take note that the Credit Opinion was re-issued on February 15 as the following sentence was revised:
“The Central Bank of Iceland has been aggressively tightening monetary conditions, but the depreciation of the ISK since the beginning of the year continues to fuel inflation way above target.”
This sentence is now: “The Central Bank of Iceland has been aggressively tightening monetary conditions, but the depreciation of the ISK in the beginning of 2006 has fuelled inflation way above target.”