International credit rating agency Moody's has maintained Israel's credit rating at Baa1, with a negative outlook. The decision came against the backdrop of the "12-day war" with Iran and the current ceasefire, as well as the ongoing war in the Gaza Strip. According to Moody's, Israel has demonstrated impressive economic resilience despite the complex security situation, and "the economy is supported by high income levels and a dynamic high-tech sector." Nevertheless, Moody's points to several significant challenges, such as growth in national debt and an increasing budget deficit, but generally anticipates that the economy will recover strongly in 2026.