Fitch Ratings-London-30 September 2008: Fitch Ratings has today downgraded the Republic of Iceland's Long-term foreign and local currency Issuer Default ratings (IDR) to A- (A minus) and AA from A+ and AA+ respectively. The Short-term IDR is also downgraded from F1 to F2 and the Country Ceiling from AA- (AA minus) to In addition, Fitch has placed Iceland's sovereign ratings on Rating watch Negative.
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