On June 14, 2004, Standard & Poor's Ratings Services assigned its 'A+' foreign currency and 'AA+' local currency issuer credit ratings to Ibudalanasjodur, the Housing Financing Fund (HFF) of the Republic of Iceland (foreign currency A+/Positive/A-1+; local currency AA+/Stable/A-1+). At the same time, Standard & Poor's assigned its 'A-1+' short-term rating to HFF. The ratings are the same as those on the Republic, which is the sole owner of HFF and provides an ultimate (although not a timely) guarantee of HFF's liabilities. The outlooks on HFF also match those on the Republic--positive for the foreign currency rating and stable for the local currency rating. The ratings on HFF reflect solid levels of support from the government of Iceland, as indicated...
Companies mentioned in this report are:
- Housing Financing Fund Ibudalanasjodur
- Iceland (Republic of)
Action: New Rating
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Product Type: Research Update
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