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S&P could cut Iceland to junk
ICELAND’S credit ratings could be downgraded to junk debt status after its voters rejected a deal to provide a state guarantee for repaying Britain and the Netherlands for losses from the Landsbanki banking crash in 2008, Standard & Poor’s said yesterday.
S&P said it put Iceland on its list for a possible downgrade due to higher economic risks in the wake of the no vote.
The agency has a BBB-/A-3 foreign currency rating, meaning it is just one notch above the so-called junk rating category.