24.05.19
Fitch ratings upgrades Iceland´s ST ratings to F1+; affirms LT ratings at A stable

Today Fitch ratings has published a new report on Iceland´s sovereign ratings. Iceland´s Short-Term (ST) foreign- and local currency ratings are upgraded to F1+ from F1, in line with the agency´s publication from 3rd of May. Iceland´s Long-Term (LT) ratings are affirmed at A with stable outlooks. Iceland´s country ceiling was also raised from A to A+, due to the almost full lifting of capital controls.

As stated in Fitch´s press release, the collapse of Wow air as well as the current absence of fishable capelin stock in Icelandic waters, are among the factors that have led to a worsening economic outlook for 2019. However, the agency assumes that economic growth will return in 2020 and be positive by 2.5%. The announcement also points to the recent relative stability of the Icelandic krona despite the lifting of capital controls and Wow air´s collapse.  

The main factors that could lead to a positive rating action are a continued fall in the public debt ratio, supported by prudent fiscal policy, and a sustained improvement in the external balance sheet and increased resilience of the economy to external shocks.

The main factors that could lead to a negative rating action are a sustained and sharper than expected economic downturn, impacting on the banking sector and leading to excessive capital outflows, jeopardising financial stability and weakening external buffers.

Fitch´s update (pdf)

Aðrar fréttir

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.