Credit rating agency Moody's announced today (Friday) that it has left Israel's credit rating and the negative outlook unchanged - despite the agreement to end the war in the Gaza Strip.
The agency clarified that a significant change in Israel's credit rating and outlook will be made after "implementation of Phase B of the agreement" with Hamas. "Implementation of the next stages of the agreement will be difficult, the risk that the deal will not be implemented remains high, which could lead to a violation of the ceasefire," the company said.
Moody's wrote about the current agreement: "This is a positive step for the credit rating of the State of Israel, while noting the risks to implementing the next stages of the agreement. We expect the rating agencies to give due expression in their assessments to the significant developments and changes in the region, as well as to the resilience of the Israeli economy.".
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The Accountant General at the Ministry of Finance, Yahli Rotenberg, responded: "The Moody's rating company notes in its announcement that this is a positive step for the credit rating of the State of Israel, while noting the risks to the implementation of the next stages of the agreement.
""The financial markets are not waiting and are already pricing in their confidence in the Israeli economy and the country's fiscal strength. We expect the rating agencies to give due expression in their assessments to the significant developments and changes in the region, as well as to the resilience of the Israeli economy.".
