Research Update: Icelanders' Referendum Rejection Of Plan To Repay Icesave Debt Has No Immediate Impact On Iceland Sovereign Rating - S&P Global Ratings’ Credit Research

Research Update: Icelanders' Referendum Rejection Of Plan To Repay Icesave Debt Has No Immediate Impact On Iceland Sovereign Rating

Research Update: Icelanders' Referendum Rejection Of Plan To Repay Icesave Debt Has No Immediate Impact On Iceland Sovereign Rating - S&P Global Ratings’ Credit Research
Research Update: Icelanders' Referendum Rejection Of Plan To Repay Icesave Debt Has No Immediate Impact On Iceland Sovereign Rating
Published Mar 08, 2010
1632 words — Published Mar 08, 2010
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About This Report

  
Abstract:

The Icelandic electorate's resounding rejection at a referendum of legislation to compensate the governments of The Netherlands and the United Kingdom for their deposit insurance outlays on failed Icelandic internet bank Icesave has no immediate effect on the sovereign ratings. We are keeping our 'BBB-/A-3' foreign currency ratings and our 'BBB+/A-2' local currency ratings on Iceland on CreditWatch with negative implications. We expect to resolve the CreditWatch status when we obtain greater clarity on the availability of external financing. On March 8, 2010, Standard&Poor's Ratings Services said it was keeping its 'BBB-/A-3' long- and short-term foreign currency ratings and its 'BBB+/A-2' long- and short-term local currency ratings on the Republic of Iceland on CreditWatch, where they were placed

  
Brief Excerpt:

RESEARCH Research Update: Icelanders' Referendum Rejection Of Plan To Repay Icesave Debt Has No Immediate Impact On Iceland Sovereign Rating Publication date: 08-Mar-2010 Primary Credit Analyst: Moritz Kraemer, Frankfurt (49) 69-33-99-9249;...

  
Report Type:

Research Update

Ticker
1171Z@IR
Issuer
Iceland (Republic of)
Sector
Global Issuers
Country
Iceland
Region
Europe, Middle East, Africa
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Icelanders' Referendum Rejection Of Plan To Repay Icesave Debt Has No Immediate Impact On Iceland Sovereign Rating" Mar 08, 2010. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Icelanders-Referendum-Rejection-Of-Plan-To-Repay-Icesave-Debt-Has-No-Immediate-Impact-On-Iceland-Sovereign-Rating-780129>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Icelanders' Referendum Rejection Of Plan To Repay Icesave Debt Has No Immediate Impact On Iceland Sovereign Rating Mar 08, 2010. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Icelanders-Referendum-Rejection-Of-Plan-To-Repay-Icesave-Debt-Has-No-Immediate-Impact-On-Iceland-Sovereign-Rating-780129>
  
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