S&P: Israel unaffected

Standard & Poor's said its ratings and outlook on the State of Israel are not immediately affected by imminent changes in the government coalition.

According to S&P, Israel's opposition leader, Shaul Mofaz, announced that his Kadima party will join the government for the rest of its term, until November 2013, rather than go through with the early elections that Israeli Prime Minister Benjamin Netanyahu had initially scheduled for September.

S&P said early elections would have raised uncertainties over the passage of the upcoming budget, the progress of public debt consolidation and the overall predictability of policymaking. However, the inclusion of the centrist Kadima party could herald changes in foreign policy.

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