Friday, July 18, 2014

Iceland Outlook Revised To Positive

On July 18, 2014, Standard & Poor's Ratings Services revised its outlook on the Republic of Iceland to positive from stable. At the same time, the rating agency affirmed 'BBB-/A-3' long- and short-term foreign and local currency sovereign credit ratings on Iceland.
S&P report(pdf) 

Tuesday, July 15, 2014

Moody‘s publishes annual sovereign credit analysis

The rating agency has released a report following their annual visit to Iceland.  Moody‘s affirms Iceland‘s Baa3/P-3 ratings for long-term and short-term debt and outlook remains stable.
Moody‘s analysis(pdf) 


Monday, February 17, 2014

Iceland's Creditworthiness Is Not Affected

Iceland's Creditworthiness Is Not Affected by British and Dutch Effort to Increase Icesave Recoveries

Moody‘s has issued a Comment stating that the British and Dutch governments´ recently filed claim via their deposit insurance funds against the Icelandic Deposit Insurance Fund (TIF) has no effect on the creditworthiness of the government of Iceland (Baa3, stable). The Comment refers to EFTA Court ruling from the year 2013 that there is no payment obligation for the sovereign. 

Moody´s press release can be approached here.

Friday, February 07, 2014

Fitch Affirms Iceland at ‘BBB’; Outlook Stable

Fitch Ratings has affirmed Iceland’s Long-term foreign and local currency IDRs at ‘BBB’ and ‘BBB+’ respectively. The issue ratings on Iceland’s senior unsecured foreign and local currency bonds are also affirmed at ‘BBB’ and ‘BBB+’ respectively. The Outlooks on the Long-term IDRs are Stable. The Country Ceiling is affirmed at ‘BBB’ and the Short-term foreign currency IDR at ‘F3’.
FitchRating report(pdf)

Friday, January 24, 2014

Standard & Poor’s: Republic of Iceland. Outlook revised to stable from negative

Standard & Poor’s: Republic of Iceland. Outlook revised to stable from negative on receding fiscal risk

On January 24, 2014, Standard & Poor's Ratings Services revised the outlook on the Republic of Iceland to stable from negative. At the same time, S&P affirmed their 'BBB-/A-3' long- and short-term foreign and local currency sovereign credit ratings on Iceland.


Friday, January 10, 2014

Publication dates for Iceland's sovereign credit ratings

Credit rating agencies Standard & Poor’s, Moody’s, and Fitch are required to publish the issuance dates of EU member states’ credit ratings pursuant to Regulation no. 462/2013.

Tuesday, December 17, 2013

Moody‘s: Iceland - Mortgage Debt-Relief Plan Is Credit Positive for Housing Financing Fund

.... Without Detriment to Sovereign Creditworthiness

 Moody’s has issued a report on Iceland´s Mortgage Debt-Relief Plan.
Full report (pdf)

Monday, December 09, 2013

Fitch: Iceland Debt Relief Programme Appears Fiscally Neutral

Iceland's proposals to relieve household debt via mortgage write-offs and tax-exempt private pension scheme savings appear consistent with the authorities' stated commitment to fiscal consolidation, Fitch Ratings says.
Fitch press release(pdf)

Friday, October 11, 2013

Fitch affirms Iceland‘s sovereign ratings

Fitch Ratings-London/Hong Kong-11 October 2013: Fitch Ratings has affirmed Iceland's Long-term foreign and local currency Issuer Default Ratings (IDR) at 'BBB' and at 'BBB+' respectively. The agency has also affirmed the Short-term foreign currency IDR at 'F3' and the Country Ceiling at 'BBB'. The Outlooks on the Long-term IDRs are Stable.

The press release from Fitch can be found here: Iceland Fitch Press Release 11 October 2013 (pdf)

Friday, July 26, 2013

Standard & Poor's: Republic of Iceland Outlook Revised to Negative on Fiscal Risk

Standard & Poor's have today affirmed Iceland's BBB-/A-3 long- and short-term foreign and local currency sovereign credit ratings but changed the outlook to negative from stable on fiscal risks.

See further information in this announcement from Standard & Poor's: Announcement from S&P (pdf)

Friday, February 08, 2013

Moody's changes outlook on Iceland's Baa3 rating to stable from negative

Moody's Investors Service has today changed the outlook on the Baa3 rating of the Government of Iceland to stable from negative. The country's Baa3/Prime-3 long and short-term ratings remain unchanged.

Moody's decision to revise the outlook to stable is based on the reduced event risk following the European Free Trade Association's (EFTA) Court decision in January, which adds to a series of positive developments in Iceland over the past 12 months.

Rating Action

Wednesday, October 17, 2012

Standard & Poor's affirm Iceland's ratings

Standard & Poor's have today affirmed Iceland's BBB-/A-3 long- and short-term sovereign credit ratings and their stable outlook.

Read more (pdf)

Wednesday, November 23, 2011

Standard & Poor's changed its outlook on Iceland´s sovereign credit ratings to stable

Standard & Poor's affirmed today an unchanged credit rating for BBB-/A-3 on long and short term of Iceland's foreign and local currency. The outlook was revised to stable from negative.

Highlights of Standard and Poor's statement:
• The Republic of Iceland's economy is recovering from the systemic failure
of its three largest banks, and has returned to positive economic growth
after two years of severe contraction.
• In our view, significant headway has been made in restructuring the
private-sector balance sheet and we expect the process to be mostly
completed by mid-2012.
• We are therefore revising the outlook on the ratings on Iceland to stable
from negative, which balances our view of Iceland's improved economic
fundamentals with downside risks associated with capital controls being
lifted in the next few years.
• We are also affirming the 'BBB-/A-3' sovereign ratings on Iceland.

Read more (pdf)

Thursday, November 17, 2011

Moody's has published an opinion on Baa3/P-3 Iceland's sovereign credit ratings.

 Moody's published on the 15th and 16th of November an opinion on the Republic of Iceland credit rating. Sovereign credit ratings are Baa3 for long-term and P-3 for short-term obligations. The outlook is negative. Both statements of the Rating agency can be seen below.

Moody's Credit Opinion Nov 2011.(pdf)
Moody's Issuer Comment Nov 2011.(pdf)

Monday, October 03, 2011

Quarterly Government Debt Management Prospect fourth quarter

  • In Q4, benchmark Treasury bonds will be offered for sale in the amount of 10-30
  • Three outstanding Treasury bond series will be expanded: RIKB 13 0517, RIKB 16 1013, and RIKB 31 0124.
  • A new 10-year indexed benchmark Treasury bond series will be issued.
  • Sales in these series and sales of Treasury bills will be determined with reference to sales in the new series, RIKS 30 0701, issued in connection with capital account liberalisation. Sales will equal at least 10, however, so as to maintain issuance in the primary market.

GDM 4Q 2011 .pdf


Monday, April 27, 2009

Yield Curve

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100 %
150 %
200 %
400 %
RIKV 14 081599.707.22%
RIKV 14 0915 99.156.71%
RIKV 14 1015 98.666.43%
RIKV 14 1117 98.206.07%
RIKV 14 1215 97.805.90%
RIKV 15 011597.555.38%
RIKB 15 040899.605.07%
RIKB 16 1013101.255.37%
RIKB 19 0226108.656.49%
RIKB 20 020598.056.67%
RIKB 22 1026101.906.93%
RIKB 25 0612106.367.13%
RIKB 31 012491.807.37%
RIKS 21 0414104.103.11%

CPI Change

Current Value422.80
12 Months Change*2.25%
3 Months Change*2.99%
Last Month Change0.36%
Daily CPI422.80

* Annualized rates

Exchange rate