Fitch downgrades Israel’s credit rating to negative
Fitch’s statement stated that geopolitical risks arising from the Israeli-Palestinian conflict were effective in placing Israel’s long-term local and foreign currency credit rating on negative follow-up.
The statement states that the negative monitoring reflects the risk that the current conflict will expand to include large-scale military conflicts with multiple actors over a long period of time, and that other organizations and countries in the region may also be involved in the conflict.
“IT CAN CAUSE GREAT DISRUPTION”
The statement emphasized that an expansion of the conflict on this scale, in addition to human losses, could lead to significant additional military spending, destruction of infrastructure, a sustained change in consumer confidence and investments, and therefore a deterioration important in Israel’s credit metrics.
The statement warned that a significant escalation of the conflict, which would have a material and long-term impact on the economy and public finances, could lead to a decline in the country’s credit rating, and stated that the decline in the conflict It could also have a positive impact on the country’s rating. (AA)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
