Fitch Ratings has today affirmed Kaupthing Bank's ("Kaupthing") ratings at Issuer Default of 'A', Short-term 'F1', Individual 'B/C', and Support '2'. The Outlook on the Issuer Default rating is Stable.
The ratings reflect Kaupthing's strong position as one of the three dominant banks in Iceland and the growing diversification of its revenues and assets, following several acquisitions overseas in the past four years. They also reflect the bank's good asset quality and satisfactory underlying profitability.
Fitch Ratings press release is attached
