BREAKING NEWS

Fitch holds Israel's credit ratings at 'A'

By JPOST.COM STAFF

APRIL 25, 2012 20:54

Fitch credit rating agency on Wednesday affirmed Israel's long-term foreign and local currency Issuer Default Ratings at 'A' and 'A+' respectively.

Richard Fox, senior director in Fitch's Sovereign Rating Group, stated that Israel's "outlook remains stable despite the uncertainties surrounding the Iran situation. Specifically, the rating does not incorporate event risk in the shape of a possible attack on Iran's nuclear facilities."

In a press release, Fitch stated that "the longer the impasse (over Iran) continues, the higher is the risk of hostilities breaking out. In that event, it would likely lead to immediate negative rating action, with the final rating outcome depending on the extent of the economic and physical damage that Israel might suffer."

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