Standard and Poor’s raised Israel’s credit rating.
The leading credit rater announced Tuesday that it had upgraded Israel’s long-term foreign currency credit rating to A from A-minus, among other improved marks.
“The upgrades reflect the improved resilience of Israel’s public finances and economy to geopolitical risks, after a four-year period of uninterrupted and above-expectation fiscal consolidation, external asset accumulation, and robust economic growth,” S & P said.
The boost follows meetings that Israel’s finance minister, Roni Bar-On, had last month with S & P and two other leading raters, Fitch and Moody’s. The agencies’ ratings determine the conditions under which banks make loans to nations. Israel had been stuck at A-minus for 12 years.