In a statement released by the agency, assessments regarding the Israeli economy were provided.
The statement reported that Israel's foreign and local currency credit ratings were affirmed at "A2," and the credit outlook remains "negative."
The decision was attributed to Israel's exposure to increasing geopolitical risks, with the statement noting that these risks remain skewed to the downside.
REMINDER OF GEOPOLITICAL TENSION
The statement pointed to a non-negligible risk of direct military conflict between Israel and Hezbollah or Iran, noting that an intensification of geopolitical tensions could further and potentially rapidly weaken Israel's credit profile.
The credit rating agency's statement also expressed that the consequences of rising geopolitical tensions between Israel and other parties would emerge over time.
On February 9, Moody's had downgraded Israel's credit rating from "A1" to "A2" and revised its credit outlook to "negative."
News Source: AA
