Moody's lowered Israel's credit rating to "A2-A2" with a negative outlook. Decision raises many concerns about the economic situation in Tel Aviv in the days of rising debt and the inability of institutions to recover.
Decision comes at a time when the Israeli government's debts amounted to about 1.08 trillion shekels ($294.2 billion) at the end of the third quarter of 2023. The reduction will lead to a decline in the exchange rate of the Israeli currency (the shekel) against foreign currencies in the near future.