It is the first time Moody’s has lowered Israel’s credit rating, which is used by investors to measure the riskiness of investing in a global entity or government.
Moody’s downgraded Israel from A1 to A2 and said the outlook for the country’s economy was “negative.” The A2 rating nonetheless continues to carry relatively low risk, according to Moody's.
Photos You Should See View All 21 ImagesStill, Israeli officials fear that the Moody’s downgrade could lead other major agencies also to downgrade Israel’s outlook.
Israel’s economy bounced back after previous wars with Hamas, but the current war is much longer than any of those.
Concerns about Israel’s governance, rising inflation and a worldwide slowdown in tech investments last year also weighed on the economy.
Persons:
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Organizations:
—, Sunday, Finance, Hebrew University, Bank of Israel, Bank of Israel Gov
Locations:
TEL AVIV, Israel, Gaza, Jerusalem, Western Europe