By Samantha Delouya, CNN (CNN) — Israel’s prolonged war with Hamas is going to become a significant economic and political burden for the country over the long haul, Moody’s said Friday. So the agency downgraded Israel’s credit rating.
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Israel’s credit rating downgraded because of war with Hamas
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Israel's finance minister blasts Moody's downgrade of the the country's credit rating
Israel received its first-ever sovereign downgrade as Moody’s Investors Service lowered its credit rating, citing the impact of the ongoing military conflict with Hamas on its finances.
By Samantha Delouya, CNN (CNN) — Israel’s prolonged war with Hamas is going to become a significant economic and political burden for the country over the long haul, Moody’s said Friday. So the agency downgraded Israel’s credit rating.
Israel’s creditworthiness remains high, but the rating agency noted that the outlook for the country was negative considering the risks from the continued conflict.
Israel's finance minister on Sunday slammed the decision by financial ratings agency Moody's to downgrade Israel's credit rating, saying the announcement is a ''political manifesto'' that ''did not include serious economic claims.''
