S&P Global Ratings affirms Iceland at ‘A+/A-1’, Outlook Stable
S&P Global Ratings has affirmed ‘A+/A-1’ long- and short-term foreign and local currency sovereign credit ratings on Iceland. The outlook is stable.
S&P´s ratings on Iceland reflect the country’s very high GDP per capita and strong growth track record, which has been higher than most sovereigns S&P rates in Western Europe, as well as Iceland’s robust institutional framework and sound economic and fiscal policies. The ratings remain constrained by the volatile nature of Iceland’s small, open economy, which, in S&P’s view, is vulnerable to natural events, including volcanic activity, as well as adverse external developments outside of its control, such as geopolitical risks, trade and tariff tensions, and fluctuating terms-of-trade. The small size of Iceland’s economy also somewhat limits...
