30 September 2008

Fitch downgrades Iceland to 'A-'/'AA'; On Rating Watch Negative

Fitch Ratings-London-30 September 2008: Fitch Ratings has today downgraded the Republic of Iceland's Long-term foreign and local currency Issuer Default ratings (IDR) to 'A-' (A minus) and 'AA' from 'A+' and 'AA+', respectively. The Short-term IDR is also downgraded to 'F2' from 'F1'
and the Country Ceiling to 'A' from 'AA-' (AA minus). In addition, Fitch has placed Iceland's sovereign ratings on Rating Watch Negative (RWN).

Fitch Ratings Press release can be approached here