Israeli Markets Under Renewed Pressure After S&P Cuts Outlook
- Three biggest rating companies turn cautious over risks of war
- Israel assets including shekel, debt slump amid Hamas conflict
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Israel’s credit outlook was cut by the last of the three major rating companies that kept it at stable, casting a fresh pall over the country’s assets as the war with Hamas ripples through the economy.
S&P Global Ratings lowered Israel’s outlook to negative on Tuesday, following similar moves by Fitch Ratings and Moody’s Investors Service. It cited risks that the conflict sparked by Hamas’s deadly attacks this month could spread and have a more pronounced impact on Israel’s economy and public finances than expected.