05 January 2010

The ratings company Fitch Ratings downgrades Iceland's rating to BB+/BBB+; outlook negative

Fitch Ratings has today downgraded Iceland's Long-term foreign and local currency Issuer Default Ratings (IDRs) to BB+ and BBB+ from BBB- and A- respectively. The Outlooks on both Long-term ratings are Negative. Fitch has simultaneously downgraded Iceland's Short-term foreign currency IDR to B from F3 and downgraded the Country Ceiling to BB+ from BBB-.

Fitch's Announcement from today is here