Moody's: Israel only high-rated country with persistent debt decline

Noting Israel's unexpectedly low deficit of 2.15% in 2015 Moody's says that the country's fiscal performance is improving "beyond expectations."

January 18, 2016 19:31

Shekel money bills. (photo credit: REUTERS)

Israel is the only country rated A3 or higher to have seen a consistent decline in its debt burden, credit ratings agency Moody's said Monday.

Noting Israel's unexpectedly low deficit of 2.15% in 2015, and the resultant 1.8 percentage point decline in its debt burden to 64.9%, Moody's said that the country's fiscal performance was improving "beyond expectations."

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"Among our 71 investment grade sovereigns, Israel is one of only two countries (the other being the Philippines (Baa2 stable)) to register a declining debt burden every consecutive year since 2009, and the only one rated A3 or higher," the comment said.

Israel's credit rating is A1, with a stable outlook. An improvement in credit ratings could help lower the cost of borrowing for the government.

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