Fitch Ratings has revised up the outlook on Israel’s credit ratings to ‘positive’ from ‘stable’, while affirming the long-term foreign and local currency issuer default ratings at ‘A’ and ‘A+’ respectively.
The revision of the outlook reflected the agency’s assessment that the country’s public finances have improved under the new government.
Israel’s fiscal deficit is forecast to come in well below target this year and the public debt sustainability has improved, Fitch said in a report published over the weekend.
The agency noted that the new government has turned around the fiscal position and is committed to a credible medium-term program for further deficit reduction.
Published: 2013-12-01 13:09:00 UTC+00
Fitch Raises Israel's Credit Rating Outlook
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