The availability of sufficient external financing to support Iceland's economic adjustment and capital-account liberalization program remains uncertain as the nation heads toward a referendum on the Icesave legislation on March 6, 2010. We are keeping our 'BBB-/A3' foreign currency ratings and our 'BBB+/A-2' local currency ratings on Iceland on CreditWatch with negative implications for a further three months until the end of April 2010. We expect to resolve the CreditWatch status when we obtain greater clarity on the availability of external financing, which may only occur after the referendum. FRANKFURT (Standard&Poor's) Jan. 29, 2010--Standard&Poor's Ratings Services said today its 'BBB-/A-3' long- and short-term foreign currency ratings and its 'BBB+/A-2' long- and short-term local currency ratings on
