Fitch Ratings affirmed sovereign ratings of Belgium but the outlook was kept ‘negative’ as it see risk from fiscal slippage.
The rating of Belgium was maintained at ‘AA’. The negative outlook indicates risks from slippage in the budget deficit and persistently weak growth and inflation, Fitch said.
The ratings balance Belgium’s high public debt burden and fiscal slippage in recent years against the economy’s strong net external creditor position, high per capita income, track record of macroeconomic stability and relatively good governance, Fitch added.
The agency also confirmed ‘BBB-‘ ratings for Romania on Friday. The outlook remained ‘stable.’
Fitch said ratings were supported by Romania’s healthier economic outlook, presently better fiscal position and more favorable governance indicators than ‘BBB’ range peers.
However, the larger net external debt position than the ‘BBB’ median and structural weaknesses in the economy, remain moderate constraints on the rating.
Another report from Fitch showed on Friday that it affirmed Armenia’s ratings at ‘B+’ with ‘stable’ outlook.
The material has been provided by InstaForex Company – www.instaforex.com