08 October 2008

Fitch Downgrades Iceland to 'BBB-'/'A-'; Rating Watch Negative

Fitch Ratings has today downgraded the Republic of Iceland's Long-term foreign and local currency Issuer Default ratings (IDR) to 'BBB-' (BBB minus) and 'A-' (A minus) respectively.

 The Short-term IDR is also downgraded to 'F3' from and the Country Ceiling to 'BBB-'. All Iceland's sovereign ratings remain on Rating watch Negative.

Fitch's Press Release can be approached here:

Fitch's Press Release.pdf