Iceland Credit Rating

Current Iceland credit ratings, according to the main rating agencies, provide a snapshot of the country’s creditworthiness and financial stability. These ratings are critical for understanding how international and domestic investors perceive Iceland ability to honor its financial commitments.

The ratings are determined by comprehensive evaluations conducted by major credit rating agencies such as Standard & Poor's (S&P), Moody's, and Fitch Ratings. Each of these agencies uses a distinct rating scale and methodology to assess the economic and financial health of Iceland, taking into account various factors such as economic performance, fiscal policies, political stability, and debt levels.

The table below shows the current Iceland credit ratings, according to the main rating agencies.

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Rating Agency Rating Outlook Last Update Action
Standard & Poor's A+ - 13 Nov 2023 rating upgrade
Moody's Investors Service A2 positive 17 Jul 2023 outlook upgrade
Fitch Ratings A - 21 Mar 2022 outlook upgrade
DBRS - -

Iceland: Long-term Rating Scales Comparison

Iceland long-term credit ratings, as assigned by major rating agencies, offer a comparative insight into the country's creditworthiness over an extended period. Each rating agency uses its own scale to evaluate the credit risk associated with Iceland sovereign debt. These scales help investors understand the likelihood that Iceland will meet its financial obligations.

Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.
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Grade Description S&P Moody's Fitch DBRS
Investment
Grade
Prime
AAA
Aaa
AAA
AAA
High Medium Grade
AA+
Aa1
AA+
AA(high)
AA
Aa2
AA
AA
AA-
Aa3
AA-
AA(low)
Upper Medium Grade
A+
A1
A+
A(high)
A
A2
A
A
A-
A3
A-
A(low)
Lower Medium Grade
BBB+
Baa1
BBB+
BBB(high)
BBB
Baa2
BBB
BBB
BBB-
Baa3
BBB-
BBB(low)
Speculative
Grade
Speculative
BB+
Ba1
BB+
BB(high)
BB
Ba2
BB
BB
BB-
Ba3
BB-
BB(low)
Highly Speculative
B+
B1
B+
B(high)
B
B2
B
B
B-
B3
B-
B(low)
Substantial Risk
CCC+
Caa1
CCC+
CCC(high)
CCC
Caa2
CCC
CCC
CCC-
Caa3
CCC-
CCC(low)
Extremely Speculative
CC
Ca
CC
CC
C
C
C
C
In Default
RD
/
RD
RD
SD
/
SD
SD
D•NR
D•NR
D•NR
D•NR
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Iceland Credit Ratings historical data

Not enough data.

Timetable of Iceland credit ratings by S&P, Moody's, Fitch and DBRS agencies.
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.
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Date S&P Moody's Fitch DBRS
13 Nov 2023 A+
17 Jul 2023 A2
16 May 2023 A
21 Mar 2022 A
23 May 2020 A
9 Nov 2019 A2
20 Jul 2018 A3
8 Dec 2017 A
7 Jul 2017 A-
17 Mar 2017 A
13 Jan 2017 A- BBB+
1 Sep 2016 A3
10 Jun 2016 Baa2
15 Jan 2016 BBB+
24 Jul 2015 BBB+
17 Jul 2015 BBB
29 Jun 2015 Baa2
30 Jan 2015 BBB
18 Jul 2014 BBB-
24 Jan 2014 BBB-
26 Jul 2013 BBB-
14 Feb 2013 BBB
7 Feb 2013 Baa3
17 Feb 2012 BBB-
23 Nov 2011 BBB-
17 May 2011 BB+
29 Jul 2010 Baa3
23 Apr 2010 Baa3
6 Apr 2010 Baa3
5 Jan 2010 BBB- BB+
31 Dec 2009 BBB-
11 Nov 2009 Baa3
4 Dec 2008 Baa1
24 Nov 2008 BBB-
8 Oct 2008 A1 BBB-
6 Oct 2008 BBB
30 Sep 2008 Aa1 A-
29 Sep 2008 A-
20 May 2008 Aa1
17 Apr 2008 A
1 Apr 2008 A+
5 Mar 2008 Aaa
20 Nov 2007 A+
15 Mar 2007 A+
22 Dec 2006 A+
5 Jun 2006 AA-
21 Feb 2006 AA-
10 Feb 2005 AA-
16 Dec 2003 A+
31 Mar 2003 AA-
15 Nov 2002 A+
20 Oct 2002 Aaa
15 Feb 2002 AA-
22 Oct 2001 A+
21 Mar 2001 A+
3 Feb 2000 AA-
27 May 1998 A+
30 Jul 1997 Aa3
16 Jun 1997 A1
24 Jun 1996 A1
10 Apr 1996 A2
15 Mar 1996 A+
24 May 1989 A2
14 Feb 1989 A