Standard & Poor's credit rating for Iceland stands at A with stable outlook. Moody's credit rating for Iceland was last set at A2 with stable outlook. Fitch's credit rating for Iceland was last reported at A with negative outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of Iceland thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for Iceland as reported by major credit rating agencies.


AgencyRatingOutlookDate
FitchA Negative May 22 2020
Moody'sA2 Stable Nov 08 2019
Moody'sA3 Positive Jul 20 2018
FitchA Stable Dec 08 2017
FitchA- Positive Jul 07 2017
S&PA Stable Mar 17 2017
FitchBBB+ Positive Jan 13 2017
S&PA- Stable Jan 13 2017
Moody'sA3 Stable Sep 01 2016
Moody'sBaa2 Positive Watch Jun 10 2016
S&PBBB+ Stable Jan 15 2016
FitchBBB+ Stable Jul 24 2015
S&PBBB Stable Jul 17 2015
Moody'sBaa2 Stable Jun 29 2015
FitchBBB Positive Jan 30 2015
S&PBBB- Positive Jul 18 2014
S&PBBB- Stable Jan 24 2014
S&PBBB- Negative Jul 26 2013
FitchBBB Stable Feb 14 2013
Moody'sBaa3 Stable Feb 07 2013
FitchBBB- Stable Feb 17 2012
S&PBBB- Stable Nov 23 2011
FitchBB+ Stable May 17 2011
S&PBBB- Negative May 17 2011
S&PBBB- Negative Watch Apr 13 2011
Moody'sBaa3 Negative Jul 29 2010
Moody'sBaa3 Stable Apr 23 2010
Moody'sBaa3 Negative Apr 06 2010
S&PBBB- Negative Mar 30 2010
FitchBB+ Negative Jan 05 2010
S&PBBB- Negative Watch Jan 05 2010
S&PBBB- Stable Dec 31 2009
FitchBBB- Negative Dec 23 2009
Moody'sBaa3 Stable Nov 11 2009
Moody'sBaa1 Negative Dec 04 2008
S&PBBB- Negative Nov 24 2008
FitchBBB- Negative Watch Oct 08 2008
Moody'sA1 Negative Watch Oct 08 2008
Moody'sA1 Stable Oct 08 2008
S&PBBB Negative Oct 06 2008
Moody'sAa1 Negative Watch Sep 30 2008
FitchA- Negative Watch Sep 30 2008
S&PA- Negative Watch Sep 29 2008
Moody'sAa1 Stable May 20 2008
S&PA Negative Apr 17 2008
S&PA+ Negative Watch Apr 01 2008
FitchA+ Negative Apr 01 2008
Moody'sAaa Negative Mar 05 2008
S&PA+ Negative Nov 20 2007
FitchA+ Stable Mar 15 2007
S&PA+ Stable Dec 22 2006
S&PAA- Negative Jun 05 2006
FitchAA- Negative Feb 21 2006
S&PAA- Stable Feb 10 2005
S&PA+ Positive Dec 16 2003
FitchAA- Stable Mar 31 2003
S&PA+ Stable Nov 15 2002
Moody'sAaa Stable Oct 20 2002
FitchAA- Negative Feb 15 2002
S&PA+ Negative Oct 22 2001
S&PA+ Stable Mar 21 2001
FitchAA- Stable Sep 21 2000
FitchAA- N/A Feb 03 2000
S&PA+ Positive May 27 1998
Moody'sAa3 Stable Jul 30 1997
Moody'sA1 Positive Watch Jun 16 1997
Moody'sA1 Stable Jun 24 1996
Moody'sA2 Positive Watch Apr 10 1996
S&PA+ Stable Mar 15 1996
S&PA Stable Jun 26 1989
Moody'sA2 Stable May 24 1989
S&PA N/A Feb 14 1989

 S&PMoody'sFitchDBRSTE
B+ B1 35
BBB BBB+ 62
CCC+ Caa1 CCC 21
CCC+ Ca CCC CCC 15
Ba3 B+ 16
BBB BB 52
AAA Aaa AAA AAA 100
AA+ Aa1 AA+ AAA 96
BB+ Ba2 BB+ 48
BB- Ba2 45
B+ B2 B+ 33
BB- Ba3 BB- 40
B- Caa1 22
B B3 B 28
AA Aa3 AA- AA (high) 86
SD Caa3 9
B+ B1 B 31
A+ A2 N/A 78
B+ B2 B 31
B B3 27
BBB+ A3 70
BB- Ba2 BB- BB (low) 42
BBB Baa1 BBB 61
B 25
N/A B2 30
B- B2 B 28
AAA Aaa AA+ AAA 100
B- B- 27
Aa3 85
A A1 A- N/A 76
A+ A1 A+ A (high) 80
BB+ Baa2 BB+ BBB (low) 56
CCC+ Caa1 20
B B2 B 31
BBB- Ba1 BBB- 51
Caa2 15
BBB- Ba1 BBB- BBB (low) 50
AA- Aa3 AA- 83
AAA Aaa AAA AAA 100
BB- Ba3 BB- 40
B- Caa3 B- 20
B B2 B+ 30
B- Caa1 B- 25
AA- A1 AA- AA (low) 83
B- Caa1 CCC 25
AA Aaa AAA AAA 98
BB- B1 40
AA+ Aa1 AA+ AA (high) 96
AA Aa2 AA AA (high) 92
N/A Caa1 CCC 23
BB Ba2 BB 45
AAA Aaa AAA AAA 100
B- B3 B 22
BB Ba3 BB BB (low) 38
SD
BB- Ba1 BB- 43
BB- B1 35
AA+ Aa3 AA- 90
BBB Baa3 BBB 58
A A2 A 75
BBB- Baa3 BBB- BBB (low) 56
BBB Baa2 BBB 60
B- Caa1 B- 23
AA- A2 A+ A (high) 78
N/A Aa3 90
AA- A1 A+ 81
BBB Baa3 BBB- BBB (high) 61
BB- Ba3 BB- 38
B+ B2 B+ 33
A+ A1 A A (high) 77
B+ B1 BB- 36
BBB- Baa3 BBB 56
B B2 B+ 33
A+ A1 AA 85
NR B2 30
Caa2 CCC 20
A+ A3 A- A (low) 73
D C RD 11
B 30
AAA 100
A+ A2 A A 76
AAA Aaa AAA AAA 100
Aa3 AA 87
BB- BB+ 45
A- A3 BBB+ 70
B3 CCC 27
Caa1 20
A- A2 A+ A (high) 75
Baa2 65
BBB Baa1 BBB- BBB 60
B3 25
B B3 B 28
B B1 35
BBB- 55
BB+ Ba1 BB+ 51
CCC+ Caa2 CCC 14
Ba3 BB 45
AAA Aaa AAA AAA 100
AA+ Aaa AA 93
B- B3 B- 25
B3
B- B2 B 28
AAA Aaa AAA AAA 99
B+ Ba3 BB- 40
B- B3 B- 25
BBB Baa2 BBB- 60
B- B2 27
BB Ba1 BB+ 46
BBB+ A3 BBB+ N/A 65
BBB+ Baa2 BBB 61
A- A2 A- A 71
BBB Baa3 BBB BBB (high) 71
D 0
AA- Aa3 AA- 85
CCC+ Caa2 CCC 20
BBB- Baa3 BBB- 55
BBB- Baa3 BBB 55
B+ B2 B+ 33
BB+ 55
A- A1 A 75
B+ Ba3 37
BB+ Ba2 BB+ 46
B 35
AAA Aaa AAA AAA 98
A+ A2 A A (high) 76
AA- A3 A A (high) 75
B3 25
BB- Ba2 BB- 45
AA Aa2 AA- 86
A Baa1 A- A 71
CCC+ Caa1 CCC 20
B3 25
SD Caa3 RD 15
B3 30
AAA Aaa AAA AAA 99
AAA Aaa AAA AAA 100
AA Aa3 AA- 85
B- B3 25
B2 35
BBB+ Baa1 BBB+ 65
B B3 30
BBB- Ba1 52
N/A B3 B- 28
B+ B2 BB- BB (high) 35
B B2 B+ 31
B B3 B 26
AA Aa2 AA- 90
AA Aa3 AA- AA (high) 90
AA+ Aaa AAA AAA 98
BBB Baa2 BBB- BBB (low) 55
BB- B1 BB- 38
SD WR RD 11
BB Ba3 BB 43
SD Ca RD 30
 Export  API


Credit Ratings

TE S&P Moody's Fitch DBRS Description
100 AAA Aaa AAA AAA Prime
95 AA+ Aa1 AA+ AA (high) High grade
90 AA Aa2 AA AA
85 AA- Aa3 AA- AA (low)
80 A+ A1 A+ A (high) Upper medium grade
75 A A2 A A
70 A- A3 A- A (low)
65 BBB+ Baa1 BBB+ BBB (high) Lower medium grade
60 BBB Baa2 BBB BBB
55 BBB- Baa3 BBB- BBB (low)
50 BB+ Ba1 BB+ BB (high) Non-investment grade
speculative
45 BB Ba2 BB BB
40 BB- Ba3 BB- BB (low)
35 B+ B1 B+ B (high) Highly speculative
30 B B2 B B
25 B- B3 B- B (low)
20 CCC+ Caa1 CCC CCC (high) Substantial risks
15 CCC Caa2 CCC Extremely speculative
10 CCC- Caa3 CCC (low) In default with little
prospect for recovery
  CC Ca CC
5 C C C
0 D / DDD   In default
/ DD D
D
Standard & Poor, Moody's, Fitch and DBRS' sovereign debt credit rating is displayed above. In addition, the Trading Economics (TE) credit rating is shown scoring the credit worthiness of a country between 100 (riskless) and 0 (likely to default). Unlike the ratings provided by the major credit agencies, our index is numerical because we believe it is easier to understand and more insightful when comparing multiple countries. Arguably, our ratings are less likely to be manipulated because they are unsolicited and we are not paid in any way to provide countries with a rating. Technically, our ratings are based on a forward looking macro economic model which takes into account several leading economic indicators, financial markets and very little discretion. If you have any question please email us at contact@tradingeconomics.com