S&P: Israel view stable

Standard & Poor's said it revised the outlook on the State of Israel to stable from positive and affirmed the A/A-1 foreign-currency and AA-/A-1+ local-currency ratings.

The outlook on the local-currency ratings remains stable.

The outlook revision reflects the rapidly deteriorating external economic environment, which will hurt Israel's export-oriented economy and may slow down the anticipated decline in the still high general government debt burden, according to the agency.

It also reflects the political stalemate that has led to a breakdown of coalition negotiations, preventing any real progress on negotiations with the Palestinian Authority, the agency said.

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