The rating agency Moody’s raised the rating of Iceland by one notch to Baa2, welcomed this morning in a statement the government, whose capital account liberalization projects were commented positively.
The note of Iceland, along with a “stable” outlook, is now two notches above the “speculative” category.
“The gradual removal of capital controls and the reduction and external economic vulnerabilities due to the legacy of the failed banks are an essential step in restoring Iceland and provide important opportunities for growth, reducing public debt and the future normalization of the financial system “Moody’s wrote in a statement.
Iceland was rated” Aaa “, the best possible rating, until May 2008, when Moody’s went down to his note a notch. Five months later, threatened to ruin the country requested a loan from the International Monetary Fund, after the sudden and spectacular collapse of a bloated financial sector.
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