NEW YORK, Feb 14 (Reuters) - Fitch raised Iceland’s sovereign rating one notch on Thursday, citing the country’s “impressive” progress in recovering from the 2008-2009 financial crisis.
Fitch lifted Iceland’s rating to BBB from BBB-minus. The outlook is stable.
The agency cited continued growth in Iceland’s economy, with budget consolidation on track and a drop in the ratio of public debt to the economy, as well as other signs of improvement.
Moody’s Investors Service last week raised the country’s sovereign outlook to stable from negative. Moody’s rates the country Baa3.
Standard & Poor’s rates the country BBB-minus with a stable outlook. (Reporting By Daniel Bases, Caryn Trokie and Luciana Lopez; Editing by Chizu Nomiyama)