Tags: EU | Iceland | Financial | Crisis

Moody's Lifts Iceland's Debt Rating Outlook

Friday, 23 Apr 2010 06:52 AM


Moody's Investor Service has lifted Iceland's ratings outlook back to stable from negative after the crisis-stricken country received more bailout funds from the International Monetary Fund.

The ratings agency said Friday the restoration of financing from the IMF and Nordic governments ensures critical external liquidity.

It adds that the resumption of financial inflows into Iceland "should boost confidence and support the ongoing economic recovery."

Iceland earlier this week drew $160 million more from a $2.1 billion loan agreed in November 2008 after the country's banking system collapsed and its currency plummeted.

The funds were delayed by a stalemate in the so-called Icesave dispute — the repayment of $5.3 billion to Britain and the Netherlands.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Around the Web

Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.

You May Also Like
Around the Web
Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved