Fitch maintains Israel's credit rating outlook as negative
The credit rating agency Fitch announced on Monday that it has maintained Israel's current credit rating as well as the negative outlook. In the agency’s decision it was stated, “Judicial reforms could weaken checks and balances.”
“A judicial reform recently approved by the Knesset, which expands political control over the appointment of judges, along with steps to dismiss the Attorney General, could weaken mechanisms of checks and balances. There is a growing sense of public division around certain issues,” the decision stated.
This is an official rating decision, as opposed to the informal statements recently issued by rating agencies. Contrary to hopes in Israel, Fitch did not change the rating outlook from negative to neutral, meaning the concern that the rating may be downgraded in the coming months remains unchanged.
Kan.org.il is the Hebrew news website of the The Israeli Public Broadcasting Corporation
