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Rating agency Moody's has upgraded Iceland's sovereign debt rating by a notch to Baa2 after Iceland's government removed capital controls. The outlook is stable.
"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 normalization of the financial system," the agency said.
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