JERUSALEM, Sept 21 (Reuters) - Standard & Poor’s Israeli unit on Monday lowered its rating on bonds issued by holding company Israel Corp (ILCO.TA) to ‘A+’ from ‘AA-‘.
Standard & Poor’s Maalot also said its outlook was “stable”.
It cited higher risk caused by two main units — Israel Chemicals (ICL.TA) and financially troubled shipping firm Zim. The agency had previously lowered its rating for Zim to ‘CC’. (Reporting by Steven Scheer; Editing by Greg Mahlich)