Bloomberg News

ISRAEL DAYBOOK: IDB Holding’s Rating Lowered by S&P Maalot

May 14, 2012

IDB Holding Corp. said Standard & Poor’s Maalot lowered its rating to ilBBB- from ilA- and that of IDB Development Corp. was cut to ilBBB+ from ilA-.

WHAT TO WATCH: * The Finance Ministry is planning to sell a combined 1.65 billion shekels ($431 million) at a bond auction today.

EQUITY MOVERS: * Ormat Industries Ltd. (ORMT) reported a first-quarter profit of $5.8 million after a loss of $3.45 million in the year-earlier period. The developer of geothermal plants said revenue rose to $132.4 million from $99.1 million. * RadVision Ltd. (RVSN) , the maker of video-conferencing systems, will announce first-quarter results today.

MARKETS: * The TA-25 Index (TA-25) declined 0.6 percent to 1,127.91 yesterday * The yield on the Mimshal Shiklit government bond due January 2022 was at 4.53 percent. * The shekel weakened 0.3 percent to 3.8261 a dollar at 8:20 a.m. in Tel Aviv. * Corn for July delivery rose 0.3 percent to $5.8275 a bushel. * Crude oil for June delivery declined 0.5 percent to $95.70 a barrel. * Gold for immediate delivery gained 0.1 percent to $1,581.27 an ounce.

To contact the reporter on this story: David Wainer in Tel Aviv at

To contact the editor responsible for this story: Claudia Maedler at

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