Israel downgraded by another rating agency

The country’s confrontation with Iran has raised geopolitical risks, S&P has said

International ratings agency S&P Global downgraded Israel’s long-term credit rating on Thursday, citing the risk of a military escalation with Iran.

S&P has become the second major US credit ratings agency to do so after Moody’s lowered Israel’s credit score in February due to the “ongoing military conflict with Hamas” in the country’s first-ever sovereign downgrade.