The Japan-based rating agency, Rating and Investment Information (R&I), announced yesterday that it had assigned the Iceland-based Kaupthing Bank A+ for its long-term credit ratings.
R&I also announced a stable outlook rating for Kaupthing Bank. This is R&I’s initial rating of the bank, Morgunbladid reports.
R&I also evaluated the Icelandic state, assigning it an AA+ as a foreign currency issuer, and announced the outlook for the Icelandic state is also stable.
Gudni Adalsteinsson, the chief treasurer for Kaupthing Bank, said in an official statement that the Asian market will play a fundamental role in the bank’s funding strategy moving forward.