In the May of year 2008, a team of autonomous debt analysts at Moody's had to determine whether to downgrade the country's autonomous long-term debt from lower or Aaa to Aa1. Investor thought toward Iceland had changed radically in March, and the team of the Moody was awful the situation could spiral uncontrollable.
The Moody's team knew that Iceland's exposure increased to a self-confidence crisis because they were quick to shut down their holdings at the first sign of distress. The dip in the Icelandic Krona since the beginning of 2008 also induced the Icelandic people to face a conclusion: would joining the European Union (EU) protect Iceland from capricious swings in investor sentiment? What, if anything, should Iceland do to prevent a future crisis?
PUBLICATION DATE: August 29, 2008 PRODUCT #: 709011-HCB-ENG
This is just an excerpt. This case is about GLOBAL BUSINESS
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