Fitch raises Israel's credit rating from "negative"
Stockholm, April 3 (Hibya) – Fitch Ratings on Tuesday removed Israel's credit rating from "negative" and confirmed the country's credit rating at A+; while it set a "negative" rating outlook, citing uncertainty regarding the duration and magnitude of the war with the Hamas terrorist organization and its impact on the government's debt burden.
Fitch also detailed its rationale for removing the "credit monitoring negative outlook" as follows: "Geopolitical risks associated with the war in Gaza remain high and risks of escalation remain; however, Fitch believes that the risks to the credit profile are widening and the impacts may take longer to assess."
The rating agency in October placed Israel's A+ credit rating on negative watch due to the increased risk of a major regional escalation amid the war with Hamas; This situation put the country at risk of downgrading. US rating agency Moody's downgraded Israel's credit rating by one notch from A1 to A2 in February and changed its outlook to negative, citing the impact of the war on government spending as well as financial and political risks.
Albania News Agency
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