Belgium will retain Fitch’s “AA-” rating. The outlook also remains stable. S&P maintains its AA rating, even with a stable outlook.
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Fitch points to the diverse and prosperous Belgian economy with high added value. The challenges for our country, according to the credit rating agency, include the high debt ratio and the imminent loss of competitiveness by the automatic indexing system. S&P also indicates the high debt-to-GDP ratio.
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A further deterioration in public finances or a weakening of our competitiveness could potentially lead to a weakening of creditworthiness in the future, warns Fitch. Conversely, an improvement in the debt ratio and an improvement in competitiveness could lead to an improvement in creditworthiness.
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