Moody's raises Iceland's credit rating

Rating agency Moody's has raised Iceland's credit rating by a notch to Baa2, the government said in a statement on Tuesday after its decision to lift capital controls was welcomed. "The gradual removal of the capital controls and the reduction of the external and economic vulnerabilities posed by the failed banks' estates constitute a significant milestone in Iceland's recovery and represent important upside risks for future growth, public debt reduction and normalizatio