Fitch affirms Iceland sovereign ratings, revises outlooks to stable

Fitch Ratings has affirmed Iceland’s Long-term Foreign and Local Currency Issuer Default Ratings (IDRs) of ‘BB+’ and ‘BBB+’ and revised the Outlooks to Stable from Negative.

The Foreign Currency Short-Term IDR is affirmed at ‘B’ and the Country Ceiling at ‘BB+’.

Fitch says that this positive rating action on Iceland, its first since 2006, reflects a reassessment of the near-term impact on sovereign creditworthiness of the popular rejection of the ‘Icesave’ agreement in a national referendum on 9 April.

See a press release from Fitch today

(Text: Central Bank of Iceland)