Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Reuters: The Rapid Support Forces announced that they have taken over the headquarters of the Sudanese Armed Forces in al-Fasher.
Al Mayadeen correspondent: An Israeli drone strike targeted the town of Al-Qlailah, Southern Lebanon.
Al Mayadeen's correspondent in South Lebanon: Israeli drone strikes town of Harouf, Nabatieh district.
Factions' statement: The attendees agreed to support and continue implementing the ceasefire agreement measures, including the withdrawal of the occupation and lifting the siege.
Factions' statement: Calling for an end to all forms of torture and violations against prisoners in occupation prisons and the necessity of obligating the occupation to do so.
Statement: The current moment is crucial, making the meeting a true turning point toward national unity in defense of our people and their right to life, dignity, and freedom.
Factions' statement: Call for an urgent meeting of all Palestinian forces and factions to agree on a national strategy.
Factions' statement: Continuing joint work to unify visions and positions to confront the challenges facing the Palestinian cause.
Statement of the factions: Emphasis on the unity of the Palestinian political system and the independent national decision.
Statement: Approval to establish an international committee to oversee the financing and implementation of the reconstruction of the Gaza Strip.

S&P downgrades 'Israel's' credit rating; economic uncertainty deepens

  • By Al Mayadeen English
  • Source: Israeli media
  • 2 Oct 2024 08:46
  • 6 Shares
3 Min Read

In another blow, "Israel's" credit rating has been downgraded from A+ to A, deepening the economic uncertainty facing the Israeli occupation.

Listen
  • x
  • Smoke rises following Israeli bombardment in southern Lebanon as seen from northern occupied Palestine, on Oct. 1, 2024. (AP)
    Smoke rises following Israeli bombardment in South Lebanon as seen from northern occupied Palestine, on Oct. 1, 2024. (AP)

Global credit rating agency S&P downgraded "Israel's" credit rating from A+ to A, moving the decision forward by five weeks amid escalations with Hezbollah, which the agency cautioned could result in an all-scale war, reported the Israeli Ynet on Wednesday. 

According to Ynet, even though the downgrade was determined before Iran’s response on Tuesday, S&P cited the need for an earlier release due to heightened geopolitical tensions. "The unscheduled announcement was prompted by the significant increase in Israel's geopolitical and security risks," the report stated.

S&P also cautioned that the ongoing war on Gaza and escalating confrontations on the northern front, including "Israel's" failed attempts to launch a ground invasion in Lebanon, could persist into 2025, increasing the likelihood of retaliatory actions. Consequently, the agency adjusted "Israel’s" economic forecast, predicting 0% growth in 2024 and 2.2% in 2025.

The agency also forecast a fiscal deficit of 9% of GDP for this year, exceeding the government's target of 6.6%, and 6% for next year. This move by S&P follows a downgrade from Moody’s just days earlier, which lowered "Israel’s" credit rating by two levels to Baa1.

According to Ynet, Moody’s and S&P had downgraded "Israel’s" rating earlier this year, marking the first time either agency had done so since they began rating "Israel" in the late 1990s. Now, both agencies have downgraded "Israel" again within days, citing the expanding war with the Axis of Resistance. 

Related News

Spain secures triple credit rating upgrade

Israeli trade relations collapse amid war on Gaza, global boycotts

Fitch, the third major credit rating agency, recently downgraded "Israel's" rating for the first time and is expected to issue another downgrade soon.

Despite the S&P downgrade, "Israel's" A rating remains one notch above Moody's, which now places "Israel" in the B category, grouping it with medium-tier economies.

Israeli economy in ‘serious danger’

A recent report by The Washington Post on September 27 highlighted the significant challenges confronting "Israel's" economy amid Tel Aviv's aggression on Lebanon and Gaza.

"Israel" has experienced a downgrade in its credit rating and a sharp contraction in its gross domestic product. Tens of thousands of businesses have shut down, and an increasing number of jobs are being outsourced. Many Israeli reservists have had to pause their careers or struggle to balance them with military service commitments.

The construction and agriculture industries have also faced significant challenges. According to the Central Bureau of Statistics, tourism has plummeted by over 75%, closing many shop fronts.

On the other hand, military spending has at least doubled, with the Central Bank warning that the ongoing war could cost $67 billion through 2025. This prediction was made prior to "Israel’s" recent escalation in Lebanon and the mobilization of two reserve brigades to the northern front on Wednesday.

“The economy is in serious danger unless the government wakes up,” Israeli economist Dan Ben-David, who heads the Shoresh Institution for Socioeconomic Research, told The Washington Post.

  • Moody's
  • Israel
  • Israeli economy
  • S&P Global Ratings
War on Gaza

War on Gaza

Most Read

From previous scenes of the Qassam Brigades targeting an Israeli D9 bulldozer with a Yassin 105 shell, east of Deir al-Balah. (Military Media of the Qassam Brigades)

US knew fatal Rafah blast cause was not Hamas op., says journalist

  • Politics
  • 20 Oct 2025
'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

  • Technology
  • 24 Oct 2025
Abu Hamza, the spokesperson for the Al-Quds Brigades, during a speech televised on October 22, 2025 (Al-Quds Brigades Military Media)

Al-Quds Brigades' Abu Hamza mourns leaders, vows continued resistance

  • Politics
  • 22 Oct 2025
US missionary kidnapped in Niger capital, suspected taken toward Mali

US missionary kidnapped in Niger capital, suspected taken toward Mali

  • Africa
  • 23 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Undated photo of Hanwha Ocean’s Goeje Shipyard in South Korea (Hanwha Ocean)
Politics

China counters US maritime bloc with sanctions on Hanwha Ocean

Catherine Connolly speaks after being after being elected as the new President of Ireland at Dublin Castle, Ireland, Saturday, Oct. 25, 2025. (AP)
Politics

Connolly wins Irish presidency in blow to political establishment

Buildings destroyed during the Israeli air and ground offensive are seen in the Al-Shati camp, in Gaza City, Friday, Oct. 24, 2025. (AP)
Politics

'Israel's' post-ceasefire demolitions in Gaza violate agreement: Hamas

Iran's Foreign Minister Abbas Araghchi attends the 17th annual BRICS summit in Rio de Janeiro, Brazil, July 7, 2025 (AP)
Politics

Iran’s Araghchi: Our nuclear bomb is resilience, not weapons

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS