S&P Global Ratings on Thursday cut key short- and long-term credit ratings for Israel amid the country's ongoing conflict with Hamas and its recent confrontation with Iran. S&P Global lowered the long-term foreign and local currency sovereign credit ratings to 'A+' from 'AA-' and the short-term ratings to 'A-1' from 'A-1+' – and also has a negative outlook on long-term ratings.
Israel faces international pressure to contain its response to the April 13 attack, while Iran has communicated its intention not to escalate. Nevertheless, risks of accidents or miscalculation remain, in our view, particularly if there was further exchange of fire by the two sides," the credit ratings agency added.
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