Moody’s Now Says Landsbanki Is Stable
REYKJAVÍK - Landsbanki received an upgrade to Aaa from A2, the highest possible rating for long-term commitments. Concurrently, the bank’s outlook on financal strength was changed to stable from negative. Its short-term rating of P-1 is unchanged.
Moody’s rating of Landsbanki is now Aaa/P-1/C compared to the previous rating of A2/P-1/C. The rating upgrade results from Moody’s updated bank financial strength rating (BFSR) methodology and new Joint Default Analysis (JDA) methodology, taking into account likelyhood of government support and Landsbanki’s systemic importance in Iceland.
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