Moody's Investors Service has announced an upgrade of Kaupthing Bank's credit rating. The Bank's long-term deposits and senior debt ratings in local and foreign currencies have been upgraded from A1 to Aaa, the highest possible rating assigned by Moody's.
The Bank's ratings for short-term obligations in local and foreign currencies, P-1, which is the highest rating given by Moody's, remains unchanged. The Bank's rating for financial strength, C, also remains unchanged.
Moody's upgrade results from the implementation of joint default analysis (JDA) methodology, which takes into account potential sources of external support for banks, and its updated bank financial strength rating (BFSR) methodology.
Moody's announcements are attached:
For further information please contact:
Gudni Adalsteinsson, Chief Treasurer, tel: +354-444-6126
Jónas Sigurgeirsson, Chief Communications Officer, tel: +354-444-6112
