Credit
Rating
The government bonds of the Government
of Israel have been reviewed by the international rating agencies since
1988. Today three rating agencies review the Israeli economy:
Moody's, Standard & Poor's and Fitch.
During 2012, the three rating agencies visited Israel. Moody's and
Fitch maintained their respective ratings of A1 and A, whereas Standard
& Poor's reaffirmed Israel's credit rating of A+. Below are the
credit ratings of domestic bonds and bonds issued overseas (as of September
2011) and comparative rating scales of Moody's, Standard & Poor's
and Fitch:
| Rating agency |
|
Domestic bond |
Forecast |
Foreign Bonds |
Last Rating Change |
| rating |
rating |
| Moody’s |
Long-term |
A1 |
Stable |
A1 |
The rating
outlook was upgraded to A1 in April 2008 |
| Short-term |
-- |
P-1 |
| Standard & Poor’s |
Long-term |
AA- |
Stable |
A+ |
The rating
outlook was upgraded to A+ in September 2011 |
| Short-term |
A-1+ |
A-1 |
| Fitch |
Long-term |
A+ |
Stable |
A |
The rating
outlook was upgraded to A in February 2008 |
| Short-term |
F1 |
F1 |
Table of rating scales for long term - S&P, Fitch and Moody's
| Moody’s: |
Aaa, Aa1, Aa2, Aa3, A1, A2, A3,
Baa1, Baa2, Baa3, Ba1, Ba2, Ba3, B1, B2, B3,
Caa1, Caa2, Caa3, Ca, C |
| Fitch / S&P: |
AAA, AA+, AA, AA-, A+, A, A-,
BBB+, BBB, BBB-, BB+, BB, BB-, B+, B, B-,
CCC+, CCC, CCC-, CC, C, D |
Table of rating scales for short term - S&P, Fitch and Moody's
| Moody’s: |
P-1, P-2, P-3, NP |
| S&P: |
A-1+, A-1, A-2, A-3, B, C, R, SD, D |
| Fitch: |
F1+, F1, F2, F3, B, C, D |
Below is the development of Israel's foreign currency credit rating
over the years:
|
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