The credit rating for Iceland continues to improve, according to the latest revisions by two of the large international credit ratings agencies. The Central Bank of Iceland reports that Standard & Poor's has raised its rating for Iceland from BBB+ to A- with stable outlook.
Read more: First time since end of WWII: At end of Q3 2014 Icelandic assets abroad outstrip foreign debt
The Central Bank of Iceland reports that Fitch Ratings has changed its view for the long term outlook from stable to positive. The agency continues to assess the credit of Iceland as BBB+. The third credit ratings agency Moody's has the credit rating of Iceland set at A3 with stable outlook. A better credit rating lowers Iceland's borrowing costs:
This upgrade stems from Iceland‘s stronger-than-anticipated external performance characterized by a sizeable current account surplus and material growth in the CBI‘s foreign exchange reserves throughout 2016 as well as the Icelandic economy‘s robust growth dynamics and S&P‘s expectation of a continued reduction in the general government debt level as a percentage of GDP.
The credit rating for Iceland continues to improve, according to the latest revisions by two of the large international credit ratings agencies. The Central Bank of Iceland reports that Standard & Poor's has raised its rating for Iceland from BBB+ to A- with stable outlook.
Read more: First time since end of WWII: At end of Q3 2014 Icelandic assets abroad outstrip foreign debt
The Central Bank of Iceland reports that Fitch Ratings has changed its view for the long term outlook from stable to positive. The agency continues to assess the credit of Iceland as BBB+. The third credit ratings agency Moody's has the credit rating of Iceland set at A3 with stable outlook. A better credit rating lowers Iceland's borrowing costs:
This upgrade stems from Iceland‘s stronger-than-anticipated external performance characterized by a sizeable current account surplus and material growth in the CBI‘s foreign exchange reserves throughout 2016 as well as the Icelandic economy‘s robust growth dynamics and S&P‘s expectation of a continued reduction in the general government debt level as a percentage of GDP.
