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Belgium Credit Rating DowngradeNovember 2011 Standard & Poor's downgraded on November 25 Belgium's long term sovereign credit rating by one notch from AA+ to AA with a negative outlook for Belgium. The downgrade may result in higher interest rates for future loans. Belgium's downgrade follows other downgrades within two days of Hungary and Portugal. Belgium Facing Downgrade by Standard and Poor'sDecember 2010 Standard and Poor's, S&P, credit rating agency changed on December 14 the outlook for Belgium from stable to negative, mainly due to the unstable political situation. Belgium which has a high debt to GDP ratio of around 100% is currently in an unstable political situation following the June 13 elections. The agency warned that the current credit rating of AA+ could drop within the coming six months if failing to form a stable government. A downgrade can affect the interest rates of government bonds bought by investors. |
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