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- S&P Global cut its rating for Israel on Thursday as tensions in the Middle East escalate.
- Israel's economy may suffer if there's a broad and drawn-out conflict, S&P said.
- Moody's, another ratings agency, downgraded Israel for the first time in February.
S&P Global downgraded Israel on Thursday, warning that escalating tensions in the Middle East could affect its ability to repay debt.
The ratings agency cut Israel's sovereign credit score from "AA-" to "A+" while maintaining a negative overall outlook.