Economy

S&P revises Iceland ratings outlook to stable from negative

Standard & Poor's revised its outlook on the Republic of Iceland to stable from negative and affirmed the country's sovereign ratings at BBB-/A3, citing receding fiscal risk.

"The outlook revision reflects our opinion that Iceland's proposed mortgage debt relief program would not materially increase general government debt, provided that the program is financed through increased budgetary revenue," the ratings agency said in a report.