Jul 20 2018
Moody’s changes Iceland’s outlook to positive from stable and affirms A3 ratings

Moody’s Investors Service ("Moody’s") has today changed the Government of Iceland's sovereign rating outlook to positive from stable and affirmed Iceland’s A3 long-term issuer rating. The government's long-term senior unsecured debt rating of A3 and the (P)A3 and (P)Prime-2 ratings assigned to its medium-term note (MTN) programme have also been affirmed. 

The key drivers for the change in the rating outlook to positive from stable are: 

  1. Improving economic resilience afforeded by net external creditor position, more balanced growth and ongoing strengthening of the country‘s banking system. 
  1. Anticipated further improvement in the government‘s debt metrics beyond what was previously expected. 

The positive outlook also reflects progress made in the past two years on the major preconditions we laid out at the time of the upgrade to A3 in September 2016, including the smooth removal of capital controls and the settlement of the offshore krónur situation.

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Results of additional issuance of indexed Treasury bonds RIKS 26 0216

As stated in paragraph 5 of Terms of Invitation to Tender for Treasury bonds, the Government Debt Management offered the equivalent of 10% of the nominal value sold in the auction 7 December, at the price of accepted bids. This time Primary Dealers did exercise their right to purchase in RIKS 26 0216 for 170.2 m.kr. Total outstanding nominal value of RIKS 26 0216 is now 9,783,700,000 kr. Settlement date is 12 December 2018.