|
|
Article: ICELAND: MOODY'S DOWNGRADES ICELAND'S RATINGS TO AA1.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- May 21, 2008
CopyrightCOPYRIGHT 2008 Info-Prod (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Moody's Investors Service has downgraded Iceland's government bond ratings to Aa1 from Aaa (negative), and has also lowered the foreign currency country ceiling for bank deposits to Aa1 from Aaa. All other ratings -- including the foreign currency country ceiling for debt, the local currency bank deposit ceiling, and the local currency ceiling for bonds -- are affirmed at Aaa, and all ratings now carry a stable outlook. Moody's published a special comment in January, "Iceland's Aaa Ratings at a Crossroads," that explained why, despite its considerable credit strengths, Iceland displayed characteristics that seemed increasingly at odds with a Aaa-rated country. That ...