Ratings: Foreign and Local Currency: A/Stable/A-1 For further details see ratings list. We project that, over the next three years, Iceland will continue to display strong growth, with the sovereign's substantial current account surpluses narrowing only gradually, and the general government budget posting modest deficits. We are affirming our 'A/A-1' ratings on Iceland. The outlook is stable. On Dec. 22, 2017, S&P Global Ratings affirmed its long- and short-term foreign and local currency sovereign credit ratings on the Republic of Iceland at 'A/A-1'. The outlook is stable. The stable outlook balances the potential for improvements in Iceland's fiscal position against the risks of the economy overheating in the next two years. We could raise the ratings if Iceland's fiscal performance
