Moody's downgrades Israel's credit rating

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18كيلو بايت

The international rating agency Moody's has downgraded Israel's credit rating by two notches at once, from A2 to Baa1, and also leaves a negative outlook.

According to Moody's, the main reason for the downgrade was a significant increase in geopolitical risk with negative material implications for Israel's creditworthiness in both the short and long term.

The likelihood of a ceasefire in the Gaza Strip has decreased, and domestic political risks have increased along with geopolitical risks, the report said.

Moody's believes that in the long term, Israel's economy will be more weakened by the military conflict than previously expected.

In the face of growing security risks, a quick and confident economic recovery is no longer expected, as it was in previous conflicts, the rating agency said.

A delayed and slower economic recovery will have a longer-term impact on the country's public finances, the agency noted.

The continued negative outlook also reflects Moody's view that downside risks remain, the publication said.

In October 2023, Moody's put Israel's A1 sovereign credit rating under review with the possibility of downgrade.

In February, Moody's downgraded the country's credit rating from A1 to A2 and revised the outlook to negative.

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