The Standard & Poor’s credit scoring agency upgraded its credit rating for Israel, citing the Jewish state’s steady economic growth and improved debt outlook, The Times of Israel reports.
With the raising of its credit score from A+ to AA- with a stable outlook, Israel notched its highest ever rating from S&P and other international credit rating firms.
Prime Minister Benjamin Netanyahu hailed the upgraded rating as “a reflection of the strength of the Israeli economy.”
In announcing its decision, S&P cited Israel’s stable growth and improved fiscal position in light of the sharp reduction in net government debt.