Brief: S&P Raises Long-Term Ratings On Arion, Islandsbanki, Landsbankinn

Arion banki hf

04/04/2024 14:05

April 4 (Reuters) - S&P:
    * WE RAISED OUR LONG-TERM RATINGS ON ARION BANK,
ISLANDSBANKI HF,
AND LANDSBANKINN HF TO 'BBB+'
    * OUTLOOK IS STABLE ON ALL THREE BANKS
    * WE EXPECT ICELAND'S ECONOMIC GROWTH WILL AVERAGE 2.4% OVER
2024-2025 AND THEREBY OUTPERFORM MOST NORDIC AND EUROPEAN PEERS
    * WE EXPECT BALANCED REAL RESIDENTIAL PROPERTY PRICE GROWTH
OF
2%-4% PER YEAR OVER 2024-2025 FOLLOWING A MARKED SLOWDOWN AND
3.5% CONTRACTION IN 2023

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