It is too early to say whether Israel's ceasefire deal with Hezbollah in Lebanon has "significantly and sustainably" reduced the risk that led Moody's to downgrade Israel's sovereign credit rating, the agency said on Thursday. Israel agreed earlier this week to a ceasefire deal with Iran-backed Hezbollah that has prompted relief that tensions appear to be cooling more than a year after the war in Gaza began. "It is too early to say whether these risks will be significantly and sustainably reduced," Moody's said. The agency downgraded Israel's credit rating to Baa1, from A2, in September.