Moody's Downgrades Israel's Credit Rating

Moody's credit rating agency downgraded Israel's credit rating on Friday by one notch, from A1 to A2, due to the ongoing impact of the war with Hamas in the Gaza Strip, noting that it has changed the outlook to negative. The American agency stated in a release that this action was taken after an assessment which indicated that "the ongoing military conflict with Hamas and its broader implications increase political risks for Israel and also weaken its executive and legislative institutions and financial strength in the foreseeable future."