Fitch Downgrades Israel Rating, Warns of ‘Further Deterioration’

Published on August 13, 2024

Fitch Ratings downgraded Israel’s credit rating from A+ to A on Monday, with a “negative” country outlook classification amid ongoing regional conflict. “The downgrade to ‘A’ reflects the impact of the continuation of the war in Gaza, heightened geopolitical risks, and military operations on multiple fronts,” said an Aug. 12 Fitch report. “In our view, the conflict in Gaza could last well into 2025 and there are risks of it broadening to other fronts. In addition to human losses, it could result in significant additional military spending, destruction of infrastructure, and more sustained damage to economic activity and investment, leading to a further deterioration of Israel’s credit metrics.”...

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