S&P Affirms Israel's Good Credit Rating Despite Battered Global Economy

The credit agency also noted the Jewish state's vulnerabilities, including high debt and geopolitical risks

One of the world's leading credit rating agencies assesses that Israel has a strong economic outlook heading into the future despite the destruction caused by the coronavirus pandemic. 

Standards & Poor's affirmed Israel’s position at a relatively high AA- rating, signaling Jerusalem's reliability in paying off its debts and overall credit-worthy nation. 

S&P explained its favorable rating by emphasizing Israel's dynamic and diversified economy, its flexible monetary policy, a relatively strong pool of local savings, and access to national and international capital markets.

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But the credit agency also noted the Jewish state's vulnerabilities, consisting mainly of its relatively high debt and geopolitical risks. 

Israel's Prime Minister Benjamin Netanyahu hailed the news as a great achievement for the country and welcomed “another impressive vote of confidence in the economic policy that we have been leading.” 

He also noted that while Israel's credit rating was positive development, Standards and Poor's has downgraded its credit rating for other developed countries during the pandemic. Read more at i24