Ratings

Íslandsbanki has a BBB / A-2 credit rating issued by S&P Global Ratings

Ratings agencies assign borrowers an alphabetical credit rating which reflects the borrower’s ability to fulfil his obligations. The alphabetic rating is generally accompanied by an outlook statement indicating the prospects for changes in the credit rating. The outlook can be negative, stable, or positive. Credit ratings agencies publish news and detailed analysis for their assessments on a regular basis.

The Treasury's credit rating sets a kind of ceiling on the creditworthiness of other Icelandic borrowers in international markets. Positive developments in the sovereign credit rating of the Treasury and the Bank should further improve the Bank's loan terms and access to foreign markets in the future.

S&P - Íslandsbanki

S&P - The Republic of Iceland*

Long-term rating

BBB

A

Short-term rating

A-2

A-1

Outlook

Stable

Stable

Affirmed

July 2022

May 2022

Additional Tier 1 instruments

BB-

Tier 2 subordinated debt

BB+

Senior unsecured debt

BBB

Resolution counterparty rating (RCR)

BBB+/A-2

Covered bonds

A

*Foreign currency obligations – please visit Government debt management for further information.

Ratings development


Íslandsbanki was assigned its first credit rating by Standard & Poor‘s in April 2014. Below is a list of the historical developments in Íslandsbanki’s credit ratings.

Developments in ratings of Íslandsbanki

Affirmed (date)

Long-term

Short-term

Outlook

April 2014

BB+

B

Stable

October 2014

BB+

B

Positive

November 2014

BB+

B

Positive

July 2015

BBB-

A-3

Stable

November 2015

BBB-

A-3

Stable

January 2016

BBB-

A-3

Positive

October 2016

BBB

A-2

Positive

November 2016

BBB

A-2

Positive

October 2017

BBB+

A-2

Stable

December 2017

BBB+

A-2

Stable

July 2018

BBB+

A-2

Stable

July 2019

BBB+

A-2

Negative

April 2020

BBB

A-2

Stable

January 2022

BBB

A-2

Stable

For developments in S&P's sovereign credit ratings of Iceland, please visit theCentral Bank of Iceland.