Iceland Declares Victory on Downgrade, Renews Eurobond Plan
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Iceland is reviving plans to sell Eurobonds this year after avoiding a credit downgrade as the fallout of an international depositor claims dispute recedes, Finance Minister Steingrimur J. Sigfusson said.
“This is a defensive victory and the danger of getting a credit downgrade has been averted,” Sigfusson said in a phone interview in Reykjavik. Asked how that affects Iceland’s plans to sell Eurobonds for the first time since 2006, he said “we can now review our position” and “we’ll do that -- that’s for sure.”