Moody's reaffirms positive outlook for Israeli banks: "Further improvements in performance and asset quality could lead to ratings upgrades.".

From: Globes | Date: September 5, 2006 | Copyright information

Sep. 5--International rating agency Moody's has reaffirmed its positive outlook for Israel's banks. Moody's changed its outlook to positive in May. Among the factors Moody's cites in its decision to maintain this outlook are Israel's buoyant economic performance, and the reversal of a trend of deteriorating asset quality at the banks in 2005. The agency expresses general approval of trends in Israel's financial markets, and says that privatization has made bank managements focus on efficiency and profitability rather than on market share. As for the possibility of an actual ...

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