Moody's: Israeli banks negative

Moody's Investors Service said it changed the outlook on Israel's banking system to negative from stable.

Moody's said the negative outlook reflects the projected slowdown in economic growth and the country's challenging operating environment, which will continue over the 12-18 month outlook period.

The banks' capital metrics are tight relative to those of global peers, while weaknesses in the domestic corporate bond market pose credit risks for asset quality because of the banks' high credit concentrations in domestic corporate conglomerates, the agency said.

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