from Daily Sabah
The U.S. ratings agency Moody's cut Israel's sovereign credit rating Friday due to the impact of its ongoing conflict with Palestinian resistance group Hamas in Gaza, citing material political and fiscal risks.
The impact of the conflict raises political risk and weakens Israel's executive and legislative institutions, and its fiscal strength for the foreseeable future, said the agency, which had begun the review for a downgrade on Oct. 19.
The country's rating was cut to "A2," which is five notches above investment grade, while its credit outlook was kept at negative by Moody's, meaning a further downgrade is possible.
It was the first time Israel has been downgraded, Bloomberg reported...
read more here
No comments:
Post a Comment