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Israel Bonds News

Fitch Ratings Agency Upgrades Israel

11/14/2016
 
In a new report issued November 14, Fitch Ratings Agency upgraded Israel’s long-term foreign and local currency issuer default ratings from ‘A’ to ‘A+.’

Report h
ighlights included:
  • "Israel benefits from high financing flexibility. It has deep and liquid local markets, good access to  international capital markets, an active diaspora bond program [italics added], and US  government guarantees in the event of market disruption.”
  • “Israel's well-developed institutions and education system have led to a diverse and advanced  economy. Human development and GDP per capita are above the peer medians, and the  business environment promotes innovation, particularly among the high-tech sector.”
  • “Further gas sector development will lend additional support to the external balance sheet.  Production at the Tamar gas field off the coast of Israel, which commenced in 2013, has reduced  the need for gas imports.”
In commenting on the report, Bonds President & CEO Israel Maimon said, "We can take pride in the fact that Fitch cited the Israel Bonds program among the reasons for Israel’s credit rating."

He added, "The Fitch report is a vote of confidence in the State of Israel - a nation with a resilient economy, strong entrepreneurial spirt and a vibrant democracy."

(Israel bonds are not rated)