17/12 Moody's cuts Belgium's rating

English.news.cn   2011-12-17 08:00:07 NEW YORK, Dec. 16 (Xinhua) -- Belgium's credit rating was cut two notches from AA1 to AA3 by Moody's Investors Service on Friday. Moody's lowered Belgium's local- and foreign-currency government bond ratings to AA3, with a negative outlook while affirming its short-term ratings at Prime-1. According to the rating agency's statement, the downgrade was due to Belgium's rising borrowing costs, slowing growth and liabilities. Another rating agency Fitch Ratings put Belgium's AA+ rating on review for a downgrade on Friday, while Standard & Poor's, one of the three major rating agencies, cut the rating of Belgium to AA on Nov.25. Special Report: Global Financial Crisis Editor: Tang Danlu

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