Israeli credit rating unlikely to get upgrade during war, S P official says

Israel’s credit rating is unlikely to be upgraded until the war in Gaza ends, since the conflict weighs on the Israeli economy and its fiscal position, S&P Global Ratings Director Maxim Rybnikov said on Tuesday.

Any widening of the conflict to Iran would prompt a ratings downgrade, but that is not S&P’s baseline scenario, Rybnikov said.

S&P earlier this month affirmed Israel’s long- and short-term foreign and local currency sovereign