Summary: Belgium (Kingdom of) Dec 05
- ID: 1924327
- December 2005
- Region: Belgium
- Standard & Poors
The Kingdom of Belgium's strong credit standing reflects an affluent and comparatively advanced economy, beset by a heavy general government debt burden and limited fiscal flexibility. Against this background, fiscal performance remains unusually strong in the European context. The government has been able to post general government outturns around balance on a sustained basis, underpinning debt reduction and growing public confidence in fiscal sustainability. However, the headline balance has benefited from falling interest charges, a trend which is expected to slow as the implicit interest rate on the debt bottoms out. Moreover, the primary surplus has posted a tangible decline since 2002, despite the use of one-off receipts to shore up revenues (particularly in 2003). Underpinned by the strong political...
Companies mentioned in this report are:
- Belgium (Kingdom of) (Unsolicited Ratings)
- Fonds de l'Infrastructure Ferroviaire
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >