Israeli PM Netanyahu says he expects the downgraded rating given by the agency would be upgraded again once Israel ends the bombardment, Al Jazeera reports.
“Israel’s economy is strong and is functioning very well,” Netanyahu said in a statement.
He added: “The rating downgrade is a result of Israel dealing with a multi-front war forced upon it.”
Political leaders in the Israeli opposition have slammed the government for Fitch’s move.
Fitch, which cut the rating from A+ to A, also kept Israel’s rating outlook negative, suggesting a further downgrade is possible.