S&P Credit Rating Agency downgrades Israel’s rating
Israel’s rating was downgraded by S&P credit rating agency.
According to S&P, Israel’s credit rating has been upgraded from double A minus to A plus.
The credit rating agency said the prospect of a wider conflict would hurt the Israeli economy.
S&P Global predicts that the Israeli government’s deficit will widen to 8 percent of GDP this year, largely as a result of increased defense spending.
It should be noted that the tension between Iran and Israel has been going on since April 1.
S&P Credit Rating Agency downgrades Israel’s rating
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