TEL AVIV, April 13 (Reuters) - Standard & Poor's Maalot said on Monday it has placed bonds of Israeli real estate investment firm Gazit-Globe Ltd (GLOB.TA: Quote, Profile, Research) on "credit watch negative", citing an erosion in the company's financial situation.
S&P Maalot noted that the company made large write-offs in the fourth quarter due to a decline in the value of its property for investment.
Gazit-Globe posted a fourth-quarter net loss of 865 million shekels ($209 million), compared with a net profit of 105 million a year earlier.
"We plan to examine over the near term the worsening in the financial situation, the forecasts for the coming years and the appropriateness of the current ratings," the ratings agency said in a statement.
