Moody’s confirms Israel Electric ratings

Moody’s Investors Service said it confirmed Israel Electric Corp.’s Baa1 senior secured ratings and revised the outlook to negative from under review. These actions complete the review for downgrade started on Oct. 23.

“Today's rating action on IEC follows the downgrade of the government of Israel's rating to A2 from A1 and change of the outlook to negative on Feb. 9, 2024,” Moody’s said in a press release.

The confirmation of the ratings considers the state-owned company’s central importance to the country and the very high likelihood of extraordinary government support if needed, the agency explained.

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