16 May 2011

Iceland: Fitch Affirms Sovereign Ratings, Revises Outlooks to Stable

Fitch Ratings has affirmed Iceland's Long-term Foreign and  Local Currency Issuer Default Ratings (IDRs) of 'BB+' and 'BBB+' and revised the Outlooks to
Stable from Negative. The Foreign Currency Short-Term IDR is affirmed at 'B' and the Country Ceiling at 'BB+'.

Fitch says that this positive rating action on Iceland, its first since 2006, reflects a reassessment of the near-term impact on sovereign creditworthiness of the popular rejection of the 'Icesave' agreement in a national referendum on 9 April.

See a press release from Fitch today:

Fitch affirms Iceland; revises outlooks to stable.pdf