LONDON (Standard&Poor's) Oct. 31, 2005--Standard&Poor's Ratings Services said today it affirmed its 'AA-' long-term foreign currency and 'AA+' long-term local currency sovereign credit ratings on the Republic of Iceland. At the same time, the 'A-1+' short-term foreign and local currency ratings on Iceland were affirmed. The outlook is stable. The full analysis on Iceland is available to subscribers of RatingsDirect, Standard&Poor's Web-based credit analysis system, published earlier today. "The ratings on Iceland are supported by its stable political institutions, a very wealthy and flexible economy, and healthy public finances," said Standard&Poor's credit analyst Kai Stukenbrock. "The ratings remain constrained by very high levels both of external financing needs and of external debt
