S&P Says Israel’s Rating Drivers Are Unchanged After Semiannual Review

S&P’s spokesperson in Israel said on November 7 that the key factors behind Israel’s sovereign credit rating had not changed, explaining why the agency issued no public report after its semiannual review. The review was completed on November 6, with the country’s rating remaining A and its outlook stable. “If our review determines that the key rating factors have not changed, we do not always publish a public report,” the spokesperson said. The explanation came in response to an inquiry on Saturday morning, after the review had ended without a published update. It described the agency’s reporting procedure rather than announcing a new rating action. A semiannual review can lead to a referral to a rating committee, followed by a decision on the rating or outlook. This review did not reach that stage. Sovereign ratings are reviewed at least every six months under European Union rules, with the reviews scheduled on an annual calendar. S&P changed Israel’s outlook from negative to stable in November 2025 and affirmed the rating and outlook in May 2026. The A rating remains two notches below its prewar AA− level, after cuts to A+ in April 2024 and A in October 2024.