The international credit ratings agency Moody’s has decided to keep Iceland’s rating unchanged, one level above ‘junk’ status. The news has been welcomed in Reykjavik after the company indicated that a ‘no’ vote in the recent Icesave referendum would likely result in a downgrade for the country.
Iceland’s Minister of Finance Steingrimur J. Sigfusson says he is satisfied with the outcome of last weekend’s meeting with Moody’s in Washington DC.
A statement from Moody’s explains the decision saying that it has now come to light that Britain and the Netherlands will get paid out from the estate of the