Standard & Poor’s Lowers Credit Rating for Iceland Skip to content

Standard & Poor’s Lowers Credit Rating for Iceland

By Iceland Review

Financial research company Standard & Poor’s lowered yesterday the credit rating for the Icelandic state treasury on long-term loans in foreign currency in light of growing debts of the Icelandic state.

The credit rating was lowered from BBB to BBB-. Standard & Poor’s rating of transfer and convertibility assessment was also lowered to BBB- from A- because of the limitations applied to trade capital and to some extent to trade with products in October, reports.

Standard & Poor’s confirmed the credit rating of Iceland’s state treasury for long-term and short-term commitments in domestic currency as BBB+ and A- respectively and short-term commitments in foreign currency as A-3.

The outlook remains negative.

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