S&P Research Update: Republic of Iceland Ratings Raised To 'A/A-1' On Lifting Of Capital Controls; Outlook Stable
S&P has raised Republic of Iceland Ratings to 'A/A-1' on lifting of capital controls. Outlook is stable. S&P say:
• We believe that the recent lifting of most of the remaining capital controls and the conclusion of an agreement with the owners of offshore krona assets strengthen Iceland's external profile.
• We are therefore raising our long- and short-term ratings on Iceland to 'A/A-1' from 'A-/A-2'.
• The stable outlook reflects our view that the potential for improvements in Iceland's public finances is balanced by the risk of the domestic economy overheating over the next two years.
See the new S&P global rating, about Iceland, here.