Moody's Investor Service today issued a report entitled "Negative for Israeli banking system." The report cited the expected slowdown in the domestic economy and the impact of the global crisis as the reasons for its negative outlook.
Moody's negative outlook for the Israeli banking system expresses the rating agency's view on the likely future direction of fundamental credit conditions in the industry over the next 12 to 18 months. It does not represent a projection of rating upgrades versus downgrades.
