Moody's upgrades Iceland's credit rating to Baa2

Source: Marketwatch
© Scanpix/Reuters
On Monday, Moody's Investors Service stated that it upgraded Iceland's sovereign credit rating by one notch to Baa2, as the country improved financial regulation and its debt position. In addition, Moody's said that Iceland's GDP will annually grow by 7% to 8% in the next three years, due to increased domestic and external demand. Iceland's current credit rating of Baa2 is just above junk rating. 
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