The long-term corporate credit rating on IEC was lowered to ‘BBB’ by S&P from ‘BBB+’ on March 24, 2009. The rating remains on CreditWatch with negative implications, where it was placed on Dec. 20, 2008. The rating is Baa2 by Moodys.

In October 2010, S&P cut IEC’s credit to BBB-negative falling because of the lack of fluidity, the high capital expenses required and the lack of certainty regarding the electricity tariff.

As of 31st December 2009, the state is a guarantor of 5.9 billion shekels worth of debts for IEC. IEC’s total debts are currently 61.7 billion shekels.

4th Jan 2011 – S&P downgrades IEC int’l rating from BBB- to BB+ with a negative outlook. S&P Maalot also downgraded IEC to AA-