Moody’s revises Iceland Bondco view to stable

Moody’s Investors Service said it revised the outlooks for Iceland Bondco plc and parent Iceland VLNCo Ltd. (Iceland) to stable from negative.

“We changed the outlook to stable to reflect the strength of Iceland’s performance during 2020, which included market share gains as well as improving profitability despite the additional costs linked to the coronavirus crisis” said David Beadle, a Moody’s vice president, senior credit officer and lead analyst, in a press release.

“The company has delevered, maintained adequate liquidity, and also resolved question marks over its long term ownership”, he added.

Moody’s also affirmed the B2 corporate family rating and B2-PD probability of default rating of Iceland and the B2 ratings of Bondco’s outstanding senior secured notes.

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