S&P cuts IDB credit rating by two levels
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Standard & Poor Maalot rating agency announced Sunday on lowering its credit rating for several companies in the IDB Group by two levels. IDB is controlled by Nochi Dankner.
The negative outlook reflects the steep rise of yielded returns for IDB bonds proceeds, and a growing concern over the company's ability to fulfill its financial obligations. S&P Maalot said that the downgrade was due to IDB's weak liquidity levels, and levels of financial flexibility. (Shoham Levi, Calcalist)
