News Briefs

  תשרי 23, 5774 , 27/09/13

Standard & Poors Maintains Israel's A+ Rating

The Standard and Poor's credit-rating agency said, Friday, that it has affirmed Israel's long-term foreign currency rating at A+, with a stable outlook. Following meetings, last month, between the company's representatives and Treasurer Yair Lapid, senior figures at the Finance Ministry and the Bank of Israel, and prominent people in the public and business sector, a company statement said that the decision reflects, "our view of Israel's prosperous and diverse economy, as well as the positive medium-term impact of natural gas production on the external account and the country's considerable monetary flexibility."

The statement continued, "Geopolitical risks and relatively weak, albeit improving, government finances constitute the major rating constraints." Standard & Poor's forecast "that the government will continue to consolidate government finances and that the impact of security risks on the Israeli economy will remain contained." The agency said it could consider an upgrade if Israel "makes material progress in defusing external security risks."

Other archived news briefs:Sep 27 2013, 03:36 PM, 9/27/2013