Ratings agency raises Iceland's credit rating
Reykjavik
International ratings agency Fitch has this evening raised Iceland's credit rating by one notch, from BB+ status to BBB-.
The agency said that the outlook is now stable for Iceland, and that its decision "reflects the progress that has been made in restoring macroeconomic stability, pushing ahead with structural reform and rebuilding the country's creditworthiness".
Iceland made a decision two years ago to force bondholders to pay for the banking system's collapse.
Fitch noted that the country had successfully made it through an economic reform programme drawn up with the IMF.
