Moody’s changes outlook on Iceland’s ratings to positive, affirms A2 ratings
Published on: Friday 14 July 2023
Moody’s Investors Service (Moody’s) has today changed the outlook on Government of Iceland’s ratings to positive from stable and affirmed the local and foreign-currency issuer ratings at A2. The key drivers for the outlook change to positive are: 1. The government’s rapid progress in reducing its budget deficit and bringing the public debt ratio onto a declining trend which increase the probability of a faster-than-expected rebuilding of fiscal buffers; and 2. The increased chances that strong g