Iceland revives plan to issue Eurobonds after avoiding downgrade

Icelandic Finance Minister Steingrimur Sigfusson said the country is poised to revive a plan to sell Eurobonds, as it sidestepped a downgrade to its credit rating. "This is a defensive victory, and the danger of getting a credit downgrade has been averted," Sigfusson said. Iceland's plan for issuing Eurobonds was "put on hold while we waited for what the outcome would be following the Icesave referendum," Sigfusson said. "Now we believe the picture is pretty clear, following the latest estimate from the rating companies, and now we can sit down and review the position. The plans are in place, and we're considering them for this year." Full story here