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Standard & Poor’s elevates Belgium’s credit rating from negative to stable
Belgium received some positive financial news today, as Standard and Poor's elevated its credit rating from the depths of despair, slowly returning it to credibility. The credit rating agency has raised the country’s sovereign credit outlook to stable, from its previous negative standing, due to Belgium’s successful state and economic reforms, which continue to show progress.
Standard and Poor’s move also improved Belgium’s credit rating to the AA/A-1+ level for its unsolicited long- and short-term outlook. The international agency says that, in their view, Belgium continues to stabilise, adding that there is less than a one-in-three chance that it will raise or lower the ratings at this time. This is good news for Belgians, as market rates will remain low.