Moody’s Gives Hamas a Win with First-ever Israeli Credit Downgrade

Credit rating agency Moody’s on Friday downgraded Israel’s credit rating from “A1” to “A2” for the first time ever, citing a war started by Hamas, handing a victory to Hamas and its Iranian backers.

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Moody’s downgraded Israel’s credit rating from A1 to A2 due to the war. The international rating agency also downgraded Israel’s outlook from stable to negative, expecting further downgrades in the future. In effect, Moody’s took the boldest rating action possible, surprising even the most pessimistic market forecasts. This is the first time Moody’s has downgraded Israel’s credit rating.

Moody’s analysts said, “The main factor in downgrading Israel’s rating to A2 is the ongoing military conflict with Hamas, its fallout and broader impact, which substantially increases political risks for Israel and “Moody’s assessment is that it will weaken the government, the legislative body, and the public finances.” Strength for the foreseeable future. ”

Accordingly, jerusalem post office reportIsraeli Prime Minister Benjamin Netanyahu said, “Israel’s economy is strong. The downgrade has nothing to do with the economy. It is solely due to the fact that we are at war.”