Bonds issued by Icelandair hf. (Symbol: ICEAIR 15 1) have received observation status with reference to an announcement published by Icelandair hf. on October 30th 2018, 19:23:37 CET, due to the issuer being non-compliant with some covenants of the bond.
The decision is based upon article 8.2 in the Rules for Issuers of Financial Instruments on Nasdaq Iceland hf. The article states that the Exchange may decide to give a class or classes of financial instruments of the issuer concerned temporarily an observation status due to uncertainty regarding their price formation.