Earlier this summer, S&P Global gave the Israeli economy a vote of confidence by upgrading Israel’s credit rating for the first time in seven years. As reported in a Calcalist article, the new AA- rating is Israel’s highest to date. The change by S&P was made on the heels of Moody’s Investors Service also upgrading Israel’s rating, from “stable” to “positive.”
Several factors contributed to the credit rating bump, such as Israel’s diverse economy, strong external balance sheet, historically low unemployment rate, and declining general government debt. The report mentioned Israel’s “strong economic performance” and even predicted a growth rate of 3.3 percent of gross domestic product over the next four years. The upgraded credit rating will save Israel billions of shekels, which will be leveraged for the social ministries – health, education, and social welfare.
Greenberg Traurig is the only major international law firm with a multidisciplinary, registered office in Tel Aviv and serves as a gateway for Israeli businesses and entrepreneurs seeking opportunities around the world, as well as for companies exploring opportunities within Israel. The Tel Aviv location offers clients the global reach of Greenberg Traurig’s international network, connecting Israel to major commercial centers across the globe. GT Tel Aviv is deeply involved in the hi-tech world and assists Israeli companies in raising money and increasing operations abroad as well as in connecting U.S., Chinese, and European investors with Israeli companies.