Fitch Ratings affirms Israel's credit rating but maintains a negative outlook due to rising public debt, political challenges, and uncertainty in the conflict in Gaza. Fitch warns that a renewed war in Gaza may last several months, with Israel heavily involved in the medium term. The rating agencies lowered Israel's credit score last year, citing concerns over military and civilian costs. Fitch also highlights the weakening of Iranian proxies and the potential for domestic political turmoil to undermine institutional bodies. Moody's Investors Service also warns of high political risks and maintains a negative outlook on Israel's credit score.