The credit rating agency Moody’s decided on Friday to downgrade the financial ratings of Wallonia, Flanders and the Wallonia-Brussels Federation (FWB).
Moody’s has decided to downgrade Wallonia’s rating by one notch from A2 to A3, Belga News Agency reports.
Meanwhile, the FWB’s rating was downgraded from A1 negative outlook to A2 stable outlook.
Finally, Flanders’ rating has been downgraded from Aa2 to Aa3.
These downgrades will have an immediate impact on higher rates that Wallonia, Flanders and FWB will have to pay for their next borrowings.