Fitch Ratings, one of the top credit rating agencies, affirmed Belgium’s "AA-" credit rating on Friday evening. The announcement was made on the agency’s website after the closure of the US stock market.
Currently, Fitch rates Belgium as "AA-" with a negative outlook. This rating will remain unchanged. Credit ratings from international credit agencies like Fitch are vital. They help determine how easily a country can borrow money on the global markets and measures the confidence of investors. A downgrade would be bad news for the public treasury.
In the previous assessment in August, Fitch warned that without fiscal efforts, Belgium risked a future downgrade. Belgium's public debt is one of the top priorities for the new government Coalition.
