CNN —Israel’s prolonged war with Hamas is going to become a significant economic and political burden for the country over the long haul, Moody’s said Friday.
So the agency downgraded Israel’s credit rating.
Moody’s Investors Service downgraded Israel’s debt rating from A1 to A2 on Friday, underscoring the economic damage of the country’s war with Hamas, which has resulted in thousands of human casualties and stoked geopolitical tensions around the world.
In mid-October, less than two weeks after Hamas’ deadly attack on Israel on October 7, Moody’s warned that Israel’s credit rating was in danger of a downgrade.
“Conflict with Hezbollah would pose a much bigger risk to Israel’s territory,” Moody’s said.
Persons:
CNN —, Moody’s, ” Moody’s, Matt Egan
Organizations:
CNN, Moody’s, Hamas
Locations:
Israel, Gaza, “