Fitch downgrades Iceland!

Here's what happened last year, which eventually fed through into weakness in all currencies with large/deteriorating current accounts. It certainly doesn't feel like the same will happen this time around, though EUR/ISK a percent or so higher (Bloomberg screen not updating)


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infd
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March 16, 2007 at 11:56 AM ×

Fitch left banks go this time.
It would be interesting to see when will Moodys "re-adjust" bank AAA ratings.

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Macro Man
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March 16, 2007 at 12:00 PM ×

No doubt after the price has already moved....

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infd
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March 16, 2007 at 12:29 PM ×

seems it will happen today
http://today.reuters.com/news/articleinvesting.aspx?type=bondsNews&storyID=2007-03-16T120218Z_01_L16639377_RTRIDST_0_MOODY-S-BANKS.XML


Any view on how hard they will have to cut?

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Macro Man
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March 16, 2007 at 12:55 PM ×

Nope, other than 'well away from triple-a!'

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