Economics
Iceland Outlook Raised at S&P as Economy Returns to Growth
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Standard & Poor’s raised the outlook on Iceland’s credit rating to stable from negative as the island’s economy returns to growth after emerging from its 2008 bank industry meltdown.
S&P affirmed the ‘BBB-/A-3’ sovereign ratings on Iceland, the rating company said in a statement yesterday. Iceland carries the lowest investment grade at S&P and Moody’s Investors Service. The island’s debt is ranked junk by Fitch Ratings.