Positive Rating Actions Taken On Four Icelandic Lenders On Improving Economic Conditions - S&P Global Ratings’ Credit Research

Positive Rating Actions Taken On Four Icelandic Lenders On Improving Economic Conditions

Positive Rating Actions Taken On Four Icelandic Lenders On Improving Economic Conditions - S&P Global Ratings’ Credit Research
Positive Rating Actions Taken On Four Icelandic Lenders On Improving Economic Conditions
Published Oct 25, 2017
9 pages (3598 words) — Published Oct 25, 2017
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

In our view, strong tourism numbers have helped strengthen Iceland's economic resilience, reducing private-sector debt to GDP and economic risks for banks. Despite widening economic imbalances, we therefore believe banks are now better able to withstand downturns in the credit cycle, and are revising our anchor for rating Icelandic banks to 'bbb' from 'bbb-'. As a result, we are raising our long-term ratings on Arion Bank, Islandsbanki, and Landsbankinn to 'BBB+' from 'BBB', and our long-term rating on the Housing Financing Fund Ibudalanasjodur (HFF) to 'BB+' from 'BB', while affirming our short-term ratings on all four entities. The positive outlook on HFF mainly reflects the potential for stronger fee earnings in the fund's new role. The stable outlooks on the

  
Brief Excerpt:

...+ In our view, strong tourism numbers have helped strengthen Iceland's economic resilience, reducing private-sector debt to GDP and economic risks for banks. + Despite widening economic imbalances, we therefore believe banks are now better able to withstand downturns in the credit cycle, and are revising our anchor for rating Icelandic banks to '###' from '###-'. + As a result, we are raising our long-term ratings on Arion Bank, Islandsbanki, and Landsbankinn to '###+' from '###', and our long-term rating on the Housing Financing Fund Ibudalanasjodur (HFF) to '##+' from '##', while affirming our short-term ratings on all four entities. + The positive outlook on HFF mainly reflects the potential for stronger fee earnings in the fund's new role. + The stable outlooks on the other three entities reflect our expectation that they will maintain very strong capital levels over the next two years. STOCKHOLM (S&P Global Ratings) Oct. 25, 2017--S&P Global Ratings said today that it has raised its...

  
Report Type:

Ratings Action

Issuer
Arion Bank
GICS
Diversified Banks (40101010)
Sector
Global Issuers
Country
Iceland
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Positive Rating Actions Taken On Four Icelandic Lenders On Improving Economic Conditions" Oct 25, 2017. Alacra Store. May 05, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Positive-Rating-Actions-Taken-On-Four-Icelandic-Lenders-On-Improving-Economic-Conditions-1937056>
  
APA:
S&P Global Ratings’ Credit Research. (). Positive Rating Actions Taken On Four Icelandic Lenders On Improving Economic Conditions Oct 25, 2017. New York, NY: Alacra Store. Retrieved May 05, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Positive-Rating-Actions-Taken-On-Four-Icelandic-Lenders-On-Improving-Economic-Conditions-1937056>
  
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