Moody's Affiliate upgrades Phoenix Insurance's rating to AAA

Tel Aviv, Israel, August 20, 2024 /PRNewswire/ — Phoenix Financial Ltd. (formerly Phoenix Holdings), a leading global financial services company, Israel-financial, insurance and investment group based in PHOE (“Phoenixthe “Group” or the “Company”), announced today that the Midroog rating agency has upgraded Phoenix Insurance's credit rating to Aaa.il, the highest on the Israeli rating scale.

This rating is added to the existing ilAAA Israel Maalot rating and international ratings A2 from Moody's and A- from S&P, positioning Phoenix at the forefront of Israeli financial services.

The grades awarded constitute an Israeli and international recognition of The Phoenix The rating also highlights the group's financial resilience, risk management systems and financial performance. They also reinforce the group's commitment to its customers, investors and business partners and underline the market's confidence in the stability and soundness of the group's activities. In addition, the ratings emphasize The Phoenix Ability to face challenges and maintain stability even in difficult market conditions.

In response to the rating upgrade, Phoenix CEO Eyal Ben Simon Mr. Midroog said: “We are very proud of Midroog's upgrade of its rating to Aaa.il. This is a further demonstration of the Group's strength and the successful execution of our long-term strategy. The high rating marks a new stage in our long-term relationship with our customers across the Group and with our investors.”

About Phoenix Financial (formerly Phoenix Holdings)
Phoenix Financial is a leading company IsraelTel Aviv-based financial and investment group listed on the Tel Aviv Stock Exchange. PHOEThe group's activities include multi-ray insurance, asset management, credit and brokerage services, and have demonstrated strong growth and performance throughout the cycle. Phoenix serves a significant portion of Israeli households with a broad set of activities and solutions across all business and customer segments. Managing more than 120 billion dollars in assets, Phoenix accesses From Israel Vibrant and innovative economic activity through a solid investment portfolio, creating value for customers and shareholders.

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SOURCE Phoenix Financial Ltd.