Israel’s finance minister blasts Moody’s downgrade of the the country’s credit rating

By MELANIE LIDMAN
Associated Press

TEL AVIV, Israel (AP) — Israel’s finance minister has slammed a decision by the financial ratings agency Moody’s to downgrade Israel’s credit rating. Bezalel Smotrich says the decision “did not include serious economic claims.” In its announcement Friday, Moody’s warned that the ongoing war in Gaza and a possible war in the north with Hezbollah could adversely affect Israel’s economy. It downgraded Israel’s rating from A1 to A2 and said the outlook for the country’s economy was “negative.” It’s the first time Moody’s has lowered Israel’s credit rating, which is used by investors to measure the riskiness of investing in a global entity or government. Prime Minister Benjamin Netanyahu says Israel’s economy remains strong.