• 1-800-526-8630U.S. (TOLL FREE)
  • 1-917-300-0470EAST COAST U.S.
  • +353-1-416-8900REST OF WORLD
Outlook on Republic of Iceland Revised to Stable; 'A+/A-1+' Ratings Affirmed Nov 02 Product Image

Outlook on Republic of Iceland Revised to Stable; 'A+/A-1+' Ratings Affirmed Nov 02

  • ID: 2127647
  • November 2002
  • Region: Iceland
  • Standard & Poors

Abstract
LONDON (Standard & Poor's) Nov. 15, 2002--Standard & Poor's Ratings Services said today it revised its outlook on the Republic of Iceland to stable from negative. At the same time, Standard & Poor's affirmed all its ratings on Iceland, including its 'AA+/A-1+' local currency and 'A+/A-1+' foreign currency issuer credit ratings. "The outlook revision reflects the stabilization of Iceland's external imbalances, progress in the privatization of state-owned banks, and the undented profitability of the banking system in the aftermath of the recent credit boom, which has now come to an end," said Standard & Poor's credit analyst Moritz Kraemer. After several years of rapid growth in domestic demand, Iceland's current account deficit had reached 10% of GDP in 2000. External...

Companies mentioned in this report are:
- Iceland (Republic of)

Action: Various Rating Actions

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Note: Product cover images may vary from those shown

- Iceland (Republic of)

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

RELATED PRODUCTS