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Moody's affirms Israel’s A1 credit rating

Israel’s A1 international credit rating commending the Israeli government for its budgetary discipline and reforms
19.08.13 / 00:00
Moody's affirms Israel’s A1 credit rating
19.08.13
Moody's affirms Israel’s A1 credit rating

The international credit rating company Moody’s affirmed Israel’s A1 international credit rating (government debt ratings) last Thursday, commending the Israeli government for its budgetary discipline and reforms.

Moody's noted it its Ratings Action report that the main key drivers for the affirmation are: The continued economic resilience of the Israeli economy and external position, noting that despite suffering a drop in demand for its exports in Europe, the Israeli economy had successfully weathered the global financial crisis and enjoys a boost from newly tapped gas fields.; “The second driver for affirming Israel’s rating is the continued reduction in the government's debt-to-GDP ratio, which contrasts sharply against trends in many other advanced country peers,”

The third is attributed to the persistent geopolitical risks, balanced by peace negotiations with the Palestinians, diplomatic accords with neighboring Egypt and Jordan, and the maintenance of a close relationship with the US, in addition to longer-term risks stemming from demographic pressures.

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