“Standard & Poor’s Ratings Services today affirmed its ‘AA-’ long-term foreign currency and ‘AA+’ long-term local currency sovereign credit ratings on the Republic of Iceland. At the same time, the ‘A-1+’ short-term foreign and local currency ratings on Iceland were affirmed. The outlook is stable.

Public finances remain healthy. Thanks to strong economic growth, privatization proceeds, and budget surpluses up to and including 2006, gross general government debt will continue to decline rapidly, to about 21% of GDP by 2009, from 50% in 2001.

Way to go iceland and their attempt at direct democracy.

Originally Posted by JDR13
It's just been anounced that S&P has downgraded the US's credit rating.

http://news.yahoo.com/p-reconsiderin…001207261.html

Huh. I didnt expect that. Cant blame US credit rating firms for bias then. I hope this will shock our politicians so they will do somthing before we will loose our AAA rating too.