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S&P raises Israel's credit rating to A+

SP-logoThe Standard and Poor's agency raised Israel's credit rating from A- to A+.In its announcement, S&P said the raise in Israel's credit rating came following what it called Israel's responsible reaction to the global economic crisis, adding that the country was on a reliable track toward cutting its national debt and improving its foreign loans status. Finance Minister Yuval Steinitz also commented on the S&P announcement, saying that it was a "badge of honor for the Israeli economy, and for its successful response to a global crisis that has been threatening Western economies for the last three years."

Source: TheMarker