The financial outlook for Iceland is stable, according to Moody’s Investors Service in relation to the country’s sovereign debt, and its rating will remain Aaa, Moody’s credit analyst for Iceland Joan Feldbaum-Vidra announced yesterday.
“Even if there’s a hard landing, which seems quite a possible scenario, we’re very comfortable with our rating and outlook,” Vidra said in an interview with Bloomberg.
“There’s not a risk of a downgrade,” Vidra added. “This is an economy that’s used to extremes, that’s very flexible.” Moody’s rates Iceland higher than both Fitch Ratings Ltd. and Standard & Poor’s, which downgraded its rating for Iceland last week.
Click here to read more about the current condition of the economy in Iceland.