16 January 2015

Publication dates for Iceland's sovereign credit ratings

Central Bank of Iceland

The credit rating agencies Standard & Poor’s and Fitch are required to publish the issuance dates of EU member states’ credit ratings pursuant to Regulation no. 462/2013. The purposes of the regulation are to enhance transparency in rating agencies’ operations, improve the rating process, and increase the companies’ responsibility for the credit ratings, which have a demonstrable effect on the credit terms offered to EU member states. Because Moody‘s primary analyst of the Republic of Iceland is located outside the EU, the rating agency is not required to publish the issuance dates.

The regulation applies in the EEA states, although neither it nor some recent rules on financial supervision, etc., (cf., for example, Regulation no. 1095/2010) has been formally implemented in the EEA states.

The publication schedule is entirely the responsibility of the rating agencies themselves.

 The 2015 publication dates for Iceland’s ratings are as follows:

Rating Agency    Date of publication 
 S&P    16 January
 Fitch    30 January
 S&P    17 July
 Fitch    24 July