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Israel’s S&P rating remains unchanged

JERUSALEM, Dec. 4 (JTA) — Standard & Poor’s has announced that it is maintaining Israel’s A- credit rating. The announcement this week from the international credit rating firm came prior to Israel’s planned offering of approximately $200 million on the Eurobonds market, a move expected to take place next week. Standard & Poor’s said that among the reasons for leaving Israel’s rating unchanged was the Israeli government’s plans to decrease its budget deficit. The rating is significant because interest payments on bonds would rise with a lower credit rating, which would increase the cost of borrowing funds.