Standard & Poor's places Iceland on CreditWatch negative
Credit rating agency Standard & Poor’s placed the Republic of Iceland on CreditWatch status with negative implications today. According to an S&P press release, the rating will be on CreditWatch for the next few weeks, during which time the agency will resolve the CreditWatch. Iceland’s current sovereign credit ratings from S&P are BBB- for long-term obligations in foreign currency and BBB for long-term obligations in local currency. The short-term ratings for obligations in foreign and local currency are A-3. The outlook for all of the ratings is negative.
Standard & Poor’s press release can be found here (pdf)