Fitch gives Israel Discount, notes A

Fitch Ratings said it assigned A ratings to Israel Discount Bank Ltd. and its planned senior unsecured notes. The rating on the notes is expected and will be converted into a final rating after the issuance.

The agency said that the A issuer rating reflects the likelihood the Israeli government would help the bank if needed. With about 15% of the country’s banking assets, IDB is a systemically important bank.

The A rating on the notes reflects the view that a default on the notes equates to a default at the bank, Fitch said.

The outlook is stable.

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