S&P Joins Moody’s in Downgrading Israel on Geopolitical Risk
- Increase in confrontation with Iran has raised risks, S&P says
- Widening military conflict likely to weigh on Israel’s economy
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Israel was downgraded by S&P Global Ratings, which joined Moody’s Investors Service in lowering the nation’s sovereign credit score as geopolitical risks in the Middle East escalated.
S&P cut the rating by one notch to A+, the fifth highest level and on par with Bermuda and China. The outlook remains negative, and the rating will be reviewed again on May 10, S&P said in a statement.