Moody's cuts Israel’s rating, signals potential drop to 'junk' amid ongoing geopolitical concerns
Moody's downgraded Israel's credit rating Friday, citing heightened geopolitical risks as its conflict with Hezbollah worsened and prospects for a ceasefire in Gaza receded.
«The key driver for the downgrade is our view that geopolitical risk has intensified significantly further, to very high levels,» said Moody's in a statement.
This came as it shifted Israel's ratings down two notches from A2 to Baa1, marking its second downgrade this year.
Fitch and S&P Global Ratings have also lowered Israel's ratings this year.
Moody's noted that the risks had «material negative consequences for Israel's creditworthiness in both the near and longer term.»
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