S&P Global Ratings Maalot Raises Elbit Systems' Long Term Rating to "ilAAA" (Local Scale), With a Stable Outlook and Reaffirms Short Term Rating of "ilA-1+" (Local Scale)

Rhea-AI Summary

Elbit Systems (NASDAQ: ESLT) announced that S&P Global Ratings Maalot raised its long-term local rating to "ilAAA" with a stable outlook for the company’s Series B, C and D notes, and reaffirmed its short-term rating of "ilA-1+".

S&P cited continued improvement in financial ratios, strong operating performance and a record-high backlog. Elbit’s CEO said the upgrade reflects a stronger financial profile and supports ongoing growth investments with disciplined financial management.

Positive

• Long-term local rating upgraded to "ilAAA" with stable outlook
• Short-term local rating reaffirmed at "ilA-1+"
• Rating rationale cites improved financial ratios
• Rating rationale cites strong operating performance
• Rating rationale cites record-high backlog

Negative

• None.

News Market Reaction – ESLT

-0.28%

-0.28% Session close to close

In the May 20 session, ESLT declined 0.28%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights S&P Global Ratings Maalot’s upgrade of ESLT’s local long-term rating to...

Analysis

This announcement highlights S&P Global Ratings Maalot’s upgrade of ESLT’s local long-term rating to "ilAAA" with a stable outlook, reflecting improving financial ratios, strong operating performance and a record backlog amid rising global defense budgets. Recent large contracts, including a $750 million PULS rocket deal and a $212 million U.S. Army order, support that backdrop. Investors may watch upcoming Q1 2026 results and ongoing contract flow to gauge whether this stronger credit profile is maintained.

Historical Context

5 past events · Latest: May 12 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 12	U.S. Army contract	Positive	+0.9%	Won $212M ENVG-B delivery order as sole prime supplier through 2028.
Apr 27	Earnings date set	Neutral	-0.3%	Announced timing and call details for Q1 2026 financial results.
Apr 22	Israel MoD contracts	Positive	-1.5%	Awarded ~$200M for advanced airborne munitions during Operation Roaring Lion.
Apr 06	Major export deal	Positive	+3.9%	Secured ~$750M PULS rocket artillery contract with 4-year term and 10-year support.
Mar 23	Peer industry update	Neutral	-1.9%	Peer Oshkosh showcased defense platforms at AUSA Global Force event.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Contract wins have generally been received positively, though one sizable Israel MoD award saw a negative next-day move, indicating occasional divergence between strong backlog news and price reaction.

Recent Company History

Over the past months, ESLT reported multiple sizeable defense awards, including contracts of $750 million for PULS rocket systems and about $200 million for advanced airborne munitions, plus a $212 million U.S. Army night-vision order. It also flagged upcoming Q1 2026 results. These updates supported a large backlog and growing demand backdrop. The current local-scale rating upgrade and stable outlook fit into this narrative of improving financial ratios and strong operating performance.

Key Terms

form 6-k

1 terms

form 6-k regulatory

"An unofficial English translation of the Rating Report is submitted by the Company on Form 6-K to the U.S. Securities and Exchange Commission."

A Form 6-K is a report that companies listed in certain countries file to provide important updates, such as financial results, corporate changes, or other significant information, to regulators and investors. It functions like an official company update or news release, helping investors stay informed about developments that could affect their investment decisions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HAIFA, Israel, May 20, 2026 /PRNewswire/ -- Elbit Systems Ltd. (NASDAQ: ESLT) (TASE: ESLT) ("Elbit Systems" or the "Company") announced today that S&P Global Ratings Maalot Ltd., an Israeli rating agency ("S&P Global Ratings"), issued its rating report regarding Elbit Systems (the "Rating Report"). In its Rating Report, S&P Global Ratings raised its long term rating to "ilAAA" (on local scaling) with a stable outlook regarding the Company's Series B, C and D Notes, and reaffirmed its short term rating of "ilA-1+" (on local scaling).

In the Rating Report, S&P Global Ratings noted as part of its main rationales, the continued improvement in Elbit Systems' financial ratios and strong operating performance, with a record-high backlog on the backdrop of geopolitical escalation and a sharp increase in defense budgets of countries around the globe.

The Rating Report in Hebrew was submitted by S&P Global Ratings to the Israel Securities Authority and the Tel Aviv Stock Exchange. An unofficial English translation of the Rating Report is submitted by the Company on Form 6-K to the U.S. Securities and Exchange Commission.

This announcement shall not constitute a solicitation or an offer to buy any securities.

Bezhalel (Butzi) Machlis, President and CEO of Elbit Systems: "S&P Global Ratings' decision to raise our long term rating to "ilAAA", the highest rating on local scaling, reflects the strengthening of our financial profile and succesfull execution of our long-term strategy. We believe this upgrade highlights the positive momentum of our business and supports our ability to continue investing in growth while maintaining disciplined financial management".

About Elbit Systems

Elbit Systems is a leading global defense technology company, delivering advanced solutions for a secure and safer world. Elbit Systems develops, manufactures, integrates and sustains a range of next-generation solutions across multiple domains.

Driven by its agile, collaborative culture, and leveraging Israel's technology ecosystem, Elbit Systems enables customers to address rapidly evolving battlefield challenges and overcome threats.

Elbit Systems employs over 20,000 people in dozens of countries across five continents. The Company reported $7,938.6 million in revenues for the year ended December 31, 2025 and an order backlog of $28.1 billion as of such date.

For additional information, visit: https://elbitsystems.com, follow us on X or visit our official Facebook, Youtube and LinkedIn Channels.

Company Contact:  

Dr. Yaacov (Kobi) Kagan, Executive VP - CFO
Tel:  +972-77-2946663
kobi.kagan@elbitsystems.com

Daniella Finn, VP, Investor Relations
Tel: +972-77-2948984
daniella.finn@elbitsystems.com

Dalia Bodinger, VP, Communications & Brand
Tel: +972-77-2947602
dalia.bodinger@elbitsystems.com

This press release may contain forward–looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Israeli Securities Law, 1968) regarding Elbit Systems Ltd. and/or its subsidiaries (collectively the Company), to the extent such statements do not relate to historical or current facts. Forward-looking statements are based on management's current expectations, estimates, projections and assumptions about future events. Forward–looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions about the Company, which are difficult to predict, including projections of the Company's future financial results, its anticipated growth strategies and anticipated trends in its business.  Therefore, actual future results, performance and trends may differ materially from these forward–looking statements due to a variety of factors, including, without limitation: scope and length of customer contracts; governmental regulations and approvals; changes in governmental budgeting priorities; general market, political and economic conditions in the countries in which the Company operates or sells, including Israel and the United States, among others, including the duration and scope of the war in Israel, and the potential impact on our operations; changes in global health and macro-economic conditions; differences in anticipated and actual program performance, including the ability to perform under long-term fixed-price contracts; changes in the competitive environment; and the outcome of legal and/or regulatory proceedings. The factors listed above are not all-inclusive, and further information is contained in Elbit Systems Ltd.'s latest annual report on Form 20-F, which is on file with the U.S. Securities and Exchange Commission. All forward–looking statements speak only as of the date of this release. Although the Company believes the expectations reflected in the forward-looking statements contained herein are reasonable, it cannot guarantee future results, level of activity, performance or achievements. Moreover, neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company does not undertake to update its forward-looking statements.

Elbit Systems Ltd., its logo, brand, product, service and process names appearing in this release are the trademarks or service marks of Elbit Systems Ltd. or its affiliated companies.  All other brand, product, service and process names appearing are the trademarks of their respective holders.  Reference to or use of a product, service or process other than those of Elbit Systems Ltd. does not imply recommendation, approval, affiliation or sponsorship of that product, service or process by Elbit Systems Ltd. Nothing contained herein shall be construed as conferring by implication, estoppel or otherwise any license or right under any patent, copyright, trademark or other intellectual property right of Elbit Systems Ltd. or any third party, except as expressly granted herein.

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SOURCE Elbit Systems Ltd.

FAQ

What rating upgrade did S&P Global Ratings Maalot give Elbit Systems (ESLT) on May 20, 2026?

S&P Global Ratings Maalot upgraded Elbit Systems’ long-term local rating to “ilAAA” with a stable outlook. According to Elbit Systems, this applies to its Series B, C and D notes and reflects an improved financial profile and strong operations.

What is Elbit Systems’ new long-term credit rating on the Israeli local scale?

Elbit Systems’ new long-term local rating is “ilAAA” from S&P Global Ratings Maalot. According to Elbit Systems, this is the highest rating on the local scale and is accompanied by a stable outlook on its Series B, C and D notes.

Did S&P Global Ratings change Elbit Systems’ short-term rating (ESLT) in May 2026?

S&P Global Ratings Maalot reaffirmed, rather than changed, Elbit Systems’ short-term local rating at “ilA-1+”. According to Elbit Systems, this confirmation accompanies the long-term upgrade and reflects the company’s short-term credit strength in local markets.

Why did S&P Global Ratings Maalot upgrade Elbit Systems’ long-term rating to ilAAA?

S&P Global Ratings Maalot cited continued improvement in financial ratios, strong operating performance and a record-high backlog. According to Elbit Systems, these factors, alongside global defense budget increases, supported the decision to raise the long-term local rating to “ilAAA”.

What does the ilAAA rating and stable outlook mean for Elbit Systems’ growth strategy?

Elbit Systems’ CEO said the ilAAA rating reflects a stronger financial profile and successful strategy execution. According to Elbit Systems, the upgrade supports its ability to continue investing in growth while maintaining disciplined financial management, within a stable-rating outlook framework.