07.12.18
S&P Global affirms Iceland at A/A1 with a stable outlook

Today S&P Global affirmed Iceland’s A/A-1 long- and short-term foreign and local currency sovereign credit ratings with a stable outlook. According to the rating agency, Iceland’s fiscal and external balance sheets have strengthened in recent years. However, the small, relatively concentrated economy remains vulnerable to external developments and the risk of reemergence of domestic overheating. S&P expects that growth rates will slow over the coming years as tourism inflows decelerate.

The stable outlook balances the potential for Iceland‘s stronger-than-anticipated fiscal and balance of payments performance against the risks posed by the economy‘s dependence on foreign trade developments and potential re-emergence of overheating stemming from the upcoming wage negotiations in 2019.

S&P could raise Iceland‘s ratings if fiscal and external balance sheets strengthen by more than presently anticipated over the next two years. Ratings could be lowered if financial stability risks or balance of payments pressures emerge over the next two years. For example if the domestic economy overheated, posing risks for Iceland‘s competitiveness and adversely affecting long-term growth prospects. This could also be the case if tourism flows slowed sharply, which could negatively affect the country‘s balance of payments performance and the banking system. According to S&P, the latter could manifest itself through an impact on the housing market, given the rapid pace of tourism-related construction projects in recent years.

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May 31 2023
Treasury Bonds
Treasury Bond Auction Announcement - RIKB 26 1015 - RIKS 37 0115
Series RIKB 26 1015 RIKS 37 0115
ISIN IS0000034874 IS0000033793
Maturity Date 10/15/2026 01/15/2037
Auction Date 06/02/2023 06/02/2023
Settlement Date 06/07/2023 06/07/2023
10% addition 06/06/2023 06/06/2023

On the Auction Date, between 10:30 am and 11:00 am, the Government Debt Management will auction Treasury bonds in the Series, with the ISIN numbers and with the Maturity Dates according to the table above. Payments for the Treasury bonds must be received by the Central Bank before 14:00 on the Settlement Date, and the Bonds will be delivered in electronic form on the same day. Article 6 of the General Terms of Auction for Treasury bonds applies for the right to purchase an additional 10%.

Further reference is made to the description of the Treasury bond and the General Terms of Auction for Treasury bonds on the Government Debt Management website.

For additional information please contact Oddgeir Gunnarsson, Government Debt Management, at +354 569 9635.

Treasury Bond Auction Announcement - RIKB 28 1115
Series RIKB 28 1115
ISIN IS0000028249
Maturity Date 11/15/2028
Auction Date 05/26/2023
Settlement Date 05/31/2023
10% addition 05/30/2023

On the Auction Date, between 10:30 am and 11:00 am, the Government Debt Management will auction Treasury bonds in the Series, with the ISIN number and with the Maturity Date according to the table above. Payments for the Treasury bonds must be received by the Central Bank before 14:00 on the Settlement Date and the Bonds will be delivered in electronic form on the same day. Article 6 of the General Terms of Auction for Treasury bonds applies for the right to purchase an additional 10%.

Further reference is made to the description of the Treasury bond and the General Terms of Auction for Treasury bonds on the Government Debt Management website.

For additional information please contact Oddgeir Gunnarsson, Government Debt Management, at +354 569 9635.