Finance Minister Bezalel Smotrich stated that since Fitch, a credit ratings company, has kept Israel's credit rating above A+ that this is a sign of success, but in reality these are warning signs.
Credit Suisse shares slumped 62% in premarket trade to a new low while UBS lost 7.1%.
“If implemented in full, the proposed changes could materially weaken the strength of the judiciary and as such be credit negative,” the agency said.
As Israel’s credit market grows in the wake of 2019’s implementation of credit scores, some hefty funds are flying into the sprouting sector.
By enabling Israelis to quickly and painlessly check their credit scores, Captain Credit hopes to foster the future of Israel’s credit market.
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