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Jerusalem, 23 February 2000
Moody's Changes Israel's Outlook Credit Rating from Stable to Positive
(Communicated by the Finance Ministry Spokesman)
The international credit rating company Moody's yesterday (Tuesday)
22.2.2000, published its report on Israel, raising Israel's foreign
outlook credit rating from stable to positive, and confirming Israel's
foreign and domestic credit ratings at A-.
According to Moody's, the upgrade reflects Israel's "greatly improved
macro- economic environment, new momentum in the peace process and
strong external support in the event of crisis," as well as structural
reforms and market liberalization. The improvement in Israel's
geopolitical and economic situation is linked to continued accelerated
long-term economic growth in the foreseeable future.
Finance Minister Avraham Shohat said that the trends which Moody's and
Standard and Poor have noted are encouraging and point to a possible
upgrading of Israel's credit rating in the near future, on the condition
that the government continues its economic policies and the peace
process. He said that Moody's announcement is an important milestone
that strengthens Israel's economic and geopolitical status with the
international business community.
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