Moody’s might lift Iceland

Moody's Investors Service said it placed Iceland's Baa2 issuer and government bond ratings on review for upgrade.

Moody’s said the key drivers of the review are: (a) To evaluate whether the government's new fiscal strategy and tax reform will further improve its debt sustainability in the medium-term; and (b) to determine whether the upcoming auction of offshore kronur assets will be effective in reducing or containing vulnerabilities in the country's external position and thus facilitating the generalized liberalization of capital controls.

Iceland's local currency debt and deposit ceilings remain unchanged at Baa1 and the foreign currency debt and deposit ceilings remain unchanged at Baa2/P-2.

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