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.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.