NEW YORK Feb 7 Moody's Investors Service on
Thursday revised upward Iceland's sovereign outlook to stable
from negative, citing a recent court win that lowered event risk
in the country.
The revision came on the dismissal of a European Free Trade
Association case alleging a violation of an obligation under the
European Union's Deposit Guarantee Directive.
"The court's decision frees the Icelandic government of the
potentially large costs related to the Icesave dispute with the
British and Dutch governments," Moody's said in a statement.
Moody's rates the country Baa3. Fitch Ratings and Standard &
Poor's both rate the country BBB-minus with a stable outlook.