Israel’s credit score was affirmed with a stable outlook by Fitch Ratings, in a surprise vote of confidence for the government following a judicial overhaul that’s triggered months of nationwide protests and rattled investors.
(Bloomberg) — Israel’s credit score was affirmed with a stable outlook by Fitch Ratings, in a surprise vote of confidence for the government following a judicial overhaul that’s triggered months of nationwide protests and rattled investors.
Fitch kept the sovereign rating at A+, its fifth-highest investment-grade level and on par with Saudi Arabia and Malta. In a statement on Monday, it said the government’s divisive plan “has been watered down but remains highly controversial.”
“The changes may have a negative impact on Israel’s credit metrics if the weakening of institutional checks leads to worse policy outcomes or sustained negative investor sentiment or weakens governance indicators,” it said. “Fitch considers the current measures are unlikely to trigger a material exodus of talent and capital in the high-tech sector.”
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