The number of Israeli companies affected by higher third-quarter inflation grew on Wednesday as Discount Investment Corp. and Bezeq said financial costs were "significantly higher"due to rising costs, while Phoenix Holdings warned of a quarterly loss and Ma'alot, the Israel Securities Rating Company, said Avis and New-Kopel also would post losses.
"These leasing companies have their liabilities tied to the Consumer Price Index and when it spikes, their financial expenses also spike," Yuval Torbati, the director of corporate ratings at Ma'alot, told The Jerusalem Post. "For the third quarter, they will record a net loss because of the huge spike in their financial expenses." For the full article, click on the link below...
http://www.jpost.com/servlet/Satellite?cid=1192380647645&pagename=JPost%2FJPrArticle%2FShowFull
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