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.
Rating Agency | Rating | Outlook | Last Update | Action |
---|---|---|---|---|
Standard & Poor's | A+ | - | 13 Nov 2023 | rating upgrade |
Moody's Investors Service | A1 | - | 23 Sep 2024 | rating 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 negative outlook.
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
|
Iceland Credit Ratings historical data
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.
Date | S&P | Moody's | Fitch | DBRS |
---|---|---|---|---|
23 Sep 2024 | A1 | |||
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 |