Standard & Poor's Israeli unit on Monday lowered its rating on bonds issued by holding company Israel Corp to 'A+' from 'AA-'.

Standard & Poor's Maalot also said its outlook was stable.

It cited higher risk caused by two main units -- Israel Chemicals and financially troubled shipping firm Zim. The agency had previously lowered its rating for Zim to 'CC'.

(Reporting by Steven Scheer; Editing by Greg Mahlich)