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Thursday, February 4th, 2010

As reported in the Invest In Israel Newsletter, International risk rating agency BDI Coface raised Israel’s country risk rating by one grade to A3 from A4. Israel now has the same risk rating as the U.K., Italy and China.

The country rating upgrade, which reduces foreign trade credit insurance premiums and raises potential credit levels, could save Israeli companies up to $100 million, and will also make about 400 more Israeli companies eligible for credit from foreign suppliers  .

Israel was one of very few countries in the world that managed to improve its risk rating in recent months, while the global economic crisis continued to weigh on the world’s economies, Coface said  .

Coface country ratings A1 through A4 enable countries to get investment and local companies to obtain credit, while ratings of B, C, and D indicate increasing risk, and concerns about default  .

COFACE is number one worldwide in export credit insurance and guaranteed ratings uniting high quality partners in the field of credit information and credit insurance. BDI Coface Ltd., a subsidiary of Coface, is the leading business information company in Israel.