All Iceland’s major banks get ‘positive’ outlook

International credit-ratings agency Standard & Poor’s has raised the outlook for all three of Iceland’s major banks to ‘positive’.

S&P’s latest appraisal confirms the previous outlook for Landsbankinn as ‘positive’ and raises the outlook of Arion and Íslandsbanki from ‘stable’ to ‘positive’.

This is on the back of the credit rating of the Icelandic State being raised to BBB+.

All three banks now enjoy a long-term rating of BBB- and a short-term rating of A-3.