International rating agency Moody's affirmed Belgium's rating at the Aa3 level, revising its outlook from " stable" to "negative, reported ag. Bloomberg, citing Moody's statement.
"The decision to change the forecast from "stable" of "negative" reflects the risk that the next government will not be able to implement measures to stabilize the country's debt burden”, Bloomberg quoted a statement from Moody’s.
The Belgian government led by Prime Minister Alexandre De Croo resigned on June 9 following the defeat of the Prime Minister's Open VLD party in parliamentary elections. De Croo remains head of the cabinet while the process of forming a governing coalition in Belgium is underway. All this time, the resigned cabinet continues to fulfill its duties.