Phoenix Financial Assigned International Credit Rating by S&P

TEL-AVIV, Israel, April 27, 2026 /PRNewswire/ -- Phoenix Financial, a leading Israel-based asset management, insurance, and financial services company (TASE: PHOE) ("Phoenix" or the "Company"), today announced that S&P Global Ratings has assigned the Company a long-term issuer credit rating of 'BBB' with a stable outlook.  This new rating is in addition to the existing 'A-' rating of operating subsidiary Phoenix Insurance.

The new rating reflects Phoenix Financial's strong financial profile, including high liquidity, low financial leverage, and consistent dividend distributions supported by robust cash generation across subsidiaries. The Company benefits from diversified and stable cash flows from its Asset Management and Insurance platforms, which contribute meaningfully to upstream dividends and enhance financial flexibility.

S&P highlighted that Phoenix Financial's rating is positioned only two notches below that of its insurance subsidiary, compared to a typical three-notch differential applied to shareholder entities. This narrower differential reflects the quality, stability, and growing contribution of earnings from diversified asset management activities within the group.

The stable outlook reflects S&P's expectation that Phoenix will maintain its leading competitive position in the Israeli financial services market, alongside strong and resilient earnings generation, while continuing to strengthen its capital adequacy over time.

Eyal Ben Simon, CEO of Phoenix Financial: "We are pleased to receive an international credit rating from S&P Global Ratings. This milestone reflects the strength and resilience of our business model, the quality of our earnings, and our disciplined approach to capital management. Importantly, this rating enhances our financial flexibility and supports our ability to invest in growth initiatives and execute on strategic M&A opportunities, as we continue to expand our platform and create long-term value."

About Phoenix Financial

Phoenix Financial (TASE: PHOE) is a leading Israel-based investor and financial services company with over $200 billion assets under management.  The company operates across multi-line insurance and asset management activities, including fund management, wealth solutions, retirement, advisory, brokerage, employee stock option administration, and credit origination.  Phoenix Financial trades on the Tel Aviv Stock Exchange within leading equity indices, including Tel Aviv 35, MSCI World, MSCI Israel, FTSE Developed, and Bloomberg Developed Markets.

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SOURCE Phoenix Financial