The international rating agency S&P recently announced that Israel’s sovereign credit rating in foreign currency has been downgraded from AA- to A+. Despite this reduction, the agency has maintained a negative forecast, indicating the possibility of a further downgrade in the near future.
It was not unexpected for Israel’s rating to decrease, as it had previously been higher than ratings given by other agencies. Moody’s had already downgraded Israel’s rating, while Fitch had changed its outlook to negative.
The main reasons cited by S&P for the rating downgrade include a worsening geopolitical situation and an increase in the state budget deficit. The agency is projecting a deficit of 8%, higher than the budgeted 6.6%. Additionally, S&P forecasts that Israel’s public debt-to-GDP ratio will reach 66% by 2026.
A new reproductive health clinic received approval from the University of New Mexico’s Board of…
Today, Joey Chestnut, known as the world's greatest eater, will be making a special appearance…
Welcome to the Swarthmore College Computer Science Department! Our department offers a curriculum that focuses…
Eurogroup President Paschal Donohoe emphasized the need for faster economic growth in Europe, stating that…
Following a severe storm in Houston, the streets were littered with glass shattered from buildings.…
The Brewers recently showed their support for a local business in Milwaukee after a street…