Current Belgium credit ratings, according to main rating agencies.
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| Rating Agency | Rating | Outlook | Last Update | Action |
|---|---|---|---|---|
| Standard & Poor's | AA | - | 28 Feb 2014 | outlook upgrade |
| Moody's Investors Service | Aa3 | - | 7 Mar 2014 | outlook upgrade |
| Fitch Ratings | AA- | negative | 4 Apr 2020 | outlook downgrade |
| DBRS | AA (high) | negative | 17 Aug 2020 | outlook downgrade |
Belgium Credit Ratings: Long-term Rating Scales Comparison
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| Description | S&P | Moody's | Fitch | DBRS | Grade |
|---|---|---|---|---|---|
| Prime | AAA | Aaa | AAA | AAA | Investment |
| High Medium Grade | AA+ | Aa1 | AA+ | AA(high) | |
| AA | Aa2 | AA | AA | ||
| AA- | Aa3 | AA- | AA(low) | ||
| Upper Medium Grade | A+ | A1 | A+ | A(high) | |
| A | A2 | A | A | ||
| A- | A3 | A- | A(low) | ||
| Lower Medium Grade | BBB+ | Baa1 | BBB+ | BBB(high) | |
| BBB | Baa2 | BBB | BBB | ||
| BBB- | Baa3 | BBB- | BBB(low) | ||
| Speculative | BB+ | Ba1 | BB+ | BB(high) | Speculative |
| BB | Ba2 | BB | BB | ||
| BB- | Ba3 | BB- | BB(low) | ||
| Highly Speculative | B+ | B1 | B+ | B(high) | |
| B | B2 | B | B | ||
| B- | B3 | B- | B(low) | ||
| Substantial Risk | CCC+ | Caa1 | CCC+ | CCC(high) | |
| CCC | Caa2 | CCC | CCC | ||
| CCC- | Caa3 | CCC- | CCC(low) | ||
| Extremely Speculative | CC | Ca | CC | CC | |
| C | Ca | C | C | ||
| In Default | RD | C | RD | RD | |
| SD | / | SD | SD | ||
| D | / | D | D | ||
Belgium Credit Ratings historical data
Timetable of Belgium credit ratings by S&P, Moody's, Fitch and DBRS agencies.
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.
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| Date | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|
| 17 Aug 2020 | AA (high) | |||
| 4 Apr 2020 | AA- | |||
| 23 Dec 2016 | AA- | |||
| 14 Nov 2014 | AA | |||
| 21 Mar 2014 | AA (high) | |||
| 7 Mar 2014 | Aa3 | |||
| 28 Feb 2014 | AA | |||
| 23 Jan 2013 | AA | |||
| 27 Jan 2012 | AA | |||
| 16 Dec 2011 | Aa3 | |||
| 25 Nov 2011 | AA | |||
| 11 Nov 2011 | AA (high) | |||
| 7 Oct 2011 | Aa1 | |||
| 23 May 2011 | AA+ | |||
| 14 Dec 2010 | AA+ | |||
| 13 Jan 2009 | Aa1 | |||
| 2 May 2006 | AA+ | |||
| 28 Mar 2006 | Aa1 | |||
| 17 Jun 2002 | AA | |||
| 16 Dec 1998 | AA- | |||
| 10 Aug 1994 | AA+ | |||
| 1 Jul 1992 | AA+ | |||
| 26 Jun 1989 | AA+ | |||
| 26 Oct 1988 | AA+ | |||
| 22 Mar 1988 | Aa1 |