International rating agency Standard and Poor's (S&P) has affirmed its rating of Landsbankinn. Landsbankinn's short and long term ratings are BBB-/A-3, with a positive outlook.
In S&P's estimation, risk has decreased in the Icelandic banking sector, the quality of the banks' loan portfolios has improved and the outlook is for 3% GDP growth in the next two years.
S&P notes that lifting capital controls without applying countermeasures could lead to economic instability in Iceland and thus to increased risk in the operation of the Icelandic banks. Recent statements as regards plans to lift the capital controls indicate that measures have been taken to reduce such risk. S&P concludes that the Icelandic authorities will continue to take prudent steps towards lifting capital controls to avoid any significant impact on the economy.
S&P's reports and announcements are available on the Bank’s website: http://corporate.landsbankinn.com/investor-relations/funding/credit-rating/
For further information, contact:
Rúnar Pálmason, Public Relations, pr@landsbankinn.is, tel: +354 410 6263 / 899 3745
Hanna Kristín Thoroddsen, Investor Relations, ir@landsbankinn.is, tel: +354 410 7328
