Fitch affirms Israel's ratings at 'A', negative outlook over continued involvement in Gaza
Credit ratings agency Fitch affirmed Israel's ratings at "A" and maintained its negative outlook on Monday, citing a high public debt/GDP ratio and still elevated risks from the ongoing conflict with Gaza.
The debt/GDP ratio measures a country's public debt relative to its GDP, with a higher ratio indicating a greater risk of default.
Fitch expects Israel to remain heavily involved in Gaza over the medium term, the agency said in its report.
It also said that it expects sporadic flare-ups and tensions with Iran to continue, even though the weakening of Iranian proxies across the Middle East has strengthened Israel's position.
Earlier today, Israel proposed an extended truce in Gaza in exchange for the return of about half of the remaining hostages. The Israeli military resumed its campaign against Hamas in Gaza on March 18, shattering a two-month ceasefire. (Reporting by Unnamalai L in Bengaluru; Editing by Alan Barona)
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