Fitch ups Israel view to positive

Fitch Ratings said it changed the outlook on the State of Israel's foreign- and local-currency issuer default ratings to positive from stable. Fitch also affirmed its foreign-currency issuer default rating at A-, local-currency issuer default rating at A, short-term rating at F1 and country ceiling at A+.

The outlook reflects the Israeli economy's increased resilience following the reforms of recent years, demonstrated by the limited economic impact of the war in Lebanon and the strong rebound now underway, Fitch said.

The strengthened policy framework also has endured a change of government and the political fallout from the war. Public debt has declined, the agency said, and external solvency indicators have continued to improve. Strong inward and outward investment reflect Israel's growing integration with the world economy, the agency added.

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