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Fitch Ratings, one of the international ratings companies has upgraded Iceland's government bond‘s ratings from junk bond status.
Fitch was the one ratings company that rates Icelandic government bonds that had degraded the government bonds to “junk” status. Moody’s and S&P had threatened to do so if Iceland did not pass the so-called Icesave law in a general election in April 2010. They did not deliver on their threat.
The rating of Iceland is still lower than most of the neighboring countries. Only Greece has a lower grade for government bonds in the European Economic Area. Still the higher grade was welcomed by the Governor of the Central Bank, Már Gudmundsson. In an interview with RÚV stat radio on Saturday he said that he did not expect the grade to increase again in the near future.
Long-term foreign currency Issuer Default Rating (IDR) to 'BBB-' from 'BB+' and affirmed its Long-term local currency IDR at 'BBB+'. Its Short-term foreign currency IDR has also been upgraded to 'F3'from 'B' and its Country Ceiling to 'BBB-' from 'BB+'. The Outlooks on the Long-term ratings are Stable.
BJ
Neither Prime Minister of Iceland Sigmundur Davíð Gunnlaugsson nor Minister of the Interior Hanna Birna Kristjánsdóttir have responded to Edward Snowden’s request for a political asylum in Iceland, as spokesperson for Wikileaks Kristinn Hrafnsson wrote in a letter published in Fréttablaðið today.
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The first fin whale to be hunted in Iceland this season was killed by the crew of whaling vessel Hvalur 8 yesterday evening. The vessel, which set out yesterday along with Hvalur 9, is expected to unload the catch today.
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U.S. negotiator Lee C. Buchheit, who led Iceland’s last Icesave negotiation in 2010, met with Minister of Finance Bjarni Benediktsson last week to discuss Iceland’s planned talks with creditors of the banks, according to Fréttablaðið’s sources.
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Face to Face, the current group exhibition of portraits at the ASÍ Art Museum in central Reykjavík will be running until June 23. The exhibition opened on May 25.
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The 2013 June-July issue of Iceland Review is out. Themed ‘We Are Young’ the magazine celebrates the arrival of summer by interviewing young energetic Icelanders who excel in art, sports, business and politics—and Sigmundur Davíð Gunnlaugsson, the youngest PM in the republic’s history and the world’s youngest ruling state leader. Click here to take a look at a selection of the current issue and here to subscribe to the magazine.
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REVIEWS
amiina
The road to Höfn, a 1,690-person harbor town by the fjord Hornafjörður, is lined with reindeer. Whole herds of the wild horned animals rest peacefully on withered pastures, grace next to sheep and horses and bounce along the road. Soon, Vatnajökull, Europe’s largest glacier and the region’s biggest attraction, comes into view. Looming over Höfn, its outlet glaciers flow down from the mountains on which the bright white icecap rests.
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Sin Fang will celebrate the release of his third album with a release concert in Iðnó on June 12. Flowers was released in February by Morr Music and has been well received by music enthusiasts and critics alike. The concert will be supported by Vök, this year’s winners of the Icelandic Music Experiments.
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