Moody's reduced Israel's credit rating

Moody's announced a downgrade of Israel's credit rating, a decision it considered unlikely, in view of the geopolitical fallout from the aggression on the Gaza Strip.

The decision was taken despite pressure from Tel Aviv to discourage the agency from downgrading its rating, as the move would have a negative impact on Israel's standing with global financial institutions that lend to the country.

It is noteworthy that in the first month after the start of the war on Gaza, Moody's had reduced its expectations for the growth of the Israeli economy and feared that the loss due to the continuation of the war would reach more than 50 billion dollars.

Report: Ahmed Marzouq

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