Moody's cuts Israel's rating by two notches from A2 to Baa1 (still investment grade)

What a joke! But this downgrade is serious!

Some news media compared this rating to junk or countries like Kazakhstan, which is kind of spurious! Here is a full list of country ratings by credit ratings agency (but no indication how updated this list is).

"Moody's Ratings (Moody's) has today downgraded Government of Israel's long-term local and foreign-currency issuer ratings to Baa1 from A2. Concurrently, the local-currency and foreign-currency senior unsecured ratings were also downgraded to Baa1 from A2 and the foreign-currency senior unsecured shelf rating and the foreign-currency senior unsecured MTN rating were downgraded to (P)Baa1 from (P)A2. The outlook remains negative."

Moody's cuts Israel's rating by two notches - Globes "The unexpectedly harsh downgrade, driven by the escalation in the north, puts Israel on par with countries like Kazakhstan."

Moody's cuts Israel's rating, warns of drop to 'junk'

Moody's Ratings downgrades Israel's ratings to Baa1, maintains negative outlook

(Source)