Fitch Analyst: Gaza Ceasefire Could Positively Impact Israel’s Credit Rating
A ceasefire in Gaza’s ongoing conflict could positively impact Israel’s pressured credit rating, Fitch’s top sovereign rating analyst said on Thursday, January 16, according to renowned British media.
Israel’s credit rating, currently rated “A,” remains on a downgrade warning, also known as a “negative outlook” in the terminology used by rating agencies.
“We’ve got Israel on negative, I guess that’s something that’s really related to public finances associated with the war,” said James Longsdon, Fitch’s head of sovereign ratings, at a firm-hosted conference.
“To the extent that (the war) can sort of stabilize, that would be positive I think there.” His comments follow the agreement between Israel and Hamas on a ceasefire and hostage release deal, which was announced on Wednesday but was not yet signed when Longsdon spoke.
Last August, Fitch downgraded Israel’s credit rating to “A” from “A+” with a negative outlook, citing “the continuation of the war in Gaza, heightened geopolitical risks and military operations on multiple fronts.” (INN / VFI News)
“But as for you, you meant evil against me; but God meant it for good, in order to bring it about as it is this day, to save many people alive.” - Genesis 50:20