Republic of Iceland FC Ratings Affirmed On Nordic Support; LC Ratings Lowered To 'BBB-/A-3'; Outlook Negative+
On May 17, 2011, Standard & Poor's Ratings Services affirmed its 'BBB-/A-3' long- and short-term foreign-currency sovereign credit ratings on the Republic of Iceland. At the same time, the rating agency lowered the long-term local-currency sovereign credit rating to 'BBB-' from 'BBB' and affirmed the 'A-3' short-term local-currency rating. The rating agency removed the ratings from CreditWatch, where they were placed with negative implications on April 13, 2011. The outlook is negative. The transfer and convertibility assessment is unchanged at 'BBB-'.
See further the report from Standard & Poor's Ratings Services:
Republic of Iceland FC Ratings Affirmed on Nordic Support; LC ratings Lowered To BBB- / A-3; Outlook Negative.pdf