Bank Leumi le-Israel B.M.'s (Leumi) financial profile has been comparatively resilient to the recent economic slowdown in Israel. We are therefore revising our outlook on Leumi to stable from negative and affirming the 'BBB+/A-2' long- and short-term counterparty credit ratings. The stable outlook reflects our view that Leumi's financial performance is on a recovering trend, while we expect potential further pressure on loan portfolio quality to be manageable. On May 4, 2010, Standard&Poor's Ratings Services revised its outlook on Israel-based Bank Leumi le-Israel B.M. (Leumi) to stable from negative. At the same time, we affirmed the 'BBB+/A-2' long- and short-term counterparty credit ratings. The outlook revision reflects our view that Leumi's financial profile has been relatively resilient to
