Moody’s downgrades Israel’s credit standing as a result of Hamas battle

WASHINGTON: The US scores company Moody’s downgraded Israel’s credit standing Friday because of the affect of its ongoing battle with Hamas in Gaza, decreasing it by one notch from A1 to A2.
In an announcement, Moody’s mentioned it had performed so after assessing that “the continuing navy battle with Hamas, its aftermath and wider penalties materially increase political threat for Israel in addition to weaken its govt and legislative establishments and its fiscal energy, for the foreseeable future.”