Iceland’s Outlook Revised to Stable by S&P

Iceland had its credit rating outlook revised to stable from negative by Standard & Poor’s Ratings Services, which cited economic growth in the country after two years of “severe contraction.”

“Significant headway has been made in restructuring the private-sector balance sheet and we expect the process to be mostly completed by mid-2012,” S&P said. The BBB-/A-3 sovereign ratings were affirmed.

To contact the editor responsible for this story: Vivek Shankar at vshankar3@bloomberg.net

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