Iceland (B): Redefining Aaa-Rated Sovereigns Harvard Case Solution & Analysis

In the month of May of year 2008, a team of sovereign debt analysts at Moody's must decide whether to downgrade the country's sovereign long-term debt from lower or Aaa to Aa1. Investor opinion toward Iceland had changed drastically in March, and the Moody's team was awful that the situation could spiral uncontrollable. The Moody's team understood because they were fast to liquidate their holdings at the first hint of distress that the exposure of Iceland increased to a confidence crisis.

The plunge in the Icelandic Krona since the start of 2008 additionally compelled the Icelandic people to confront a decision: would join the European Union (EU) protect Iceland from unpredictable swings in investor sentiment? What, if anything, should Iceland do to prevent a future catastrophe?

PUBLICATION DATE: August 29, 2008 PRODUCT #: 709012-PDF-ENG

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Iceland (B): Redefining Aaa-Rated Sovereigns

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