Iceland - comment

The Moody’s upgrade is good news for investors, though it is likely already priced into bonds following last month's positive results. Moody’s acknowledges Iceland’s strong niche, albeit in a competitive British grocery market. Moody’s expects further improvement in debt metrics due to improving margins as cost-cutting flows through to results and Iceland gains some market share.  

https://www.moodys.com/research/Moodys-Ratings-upgrades-Iceland-VLNCo-to-B2-outlook-stable-Rating-Action--PR_493864?cid=GAR9PTU7VKT2671&emailToken=eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJVc2VySWQiOiI1NmI3MGE5My03OTU3LTQyODEtOGMzMC0xOWZmZTUyM2U2M2QiLCJEb2NJZCI6IlBSXzQ5Mzg2NCIsImNyZWF0aW9uRGF0ZSI6IjIwMjQtMDgtMDFUMTM6MTI6MzAuMDg1NTc0Mi0wNDowMCIsImV4cCI6MTcyMjc5MTU1MCwiVXNlck5hbWUiOiJtdmFyc2FuaUBzYXJyaWEuY28udWsiLCJVc2VyVHlwZSI6IjIifQ.V-bBJrDEvMoVybeHN6eL3IW7LTRtkg8OdDbkfkFRtqg

Tomás MannionICELAND