04 December 2008

Moody's downgrades Iceland's ratings to Baa1; negative outlook

Moody's Investors Service has today downgraded the foreign and local currency ratings of the Government of Iceland to Baa1 with a negative outlook from A1, thereby concluding the rating agency's review for possible downgrade announced on 8 October 2008.

The government's short term rating was changed to P-2 from P-1.

Moody's press release can be approached here:

Moody's press release from December 4, 2008.