By Stephen NakrosisMoody's Investors Service said it downgraded the foreign-currency and local-currency issuer ratings of Israel to A2 from A1, and changed its outlook on the country to negative. The moves Friday conclude a review for downgrade initiated by Moody's in October 2023. Moody's also said Israel's budget deficit over the coming years "will be significantly larger than expected before the conflict." The negative outlook reflects downside risks, including the risk of an escalation involving Hezbollah, Moody's said. Write to Stephen Nakrosis at stephen.nakrosis@wsj.com(END) Dow Jones NewswiresFebruary 09, 2024 17:31 ET (22:31 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal February 09, 2024 22:36 UTC