From Money Morning Australia
"The sovereign debt crises around the world rumble on. If it isn’t the UK and other European countries being downgraded or threatened with downgrades by credit rating agencies, then it’s the latest twists in the Greek saga.
However, some countries are having their credit ratings raised. Fitch has just upgraded Icelandic debt to BBB-. This means that all three major agencies, (the other two being Standard & Poor’s and Moody’s) consider Icelandic debt to be investment grade once again. It costs nearly the same amount to insure Belgian debt against default as it does that of Iceland’s government."
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