International rating agency Moody’s downgraded Belgium’s credit rating outlook to negative, while Fitch Ratings assigned a negative outlook to France, Bloomberg reports citing the agencies’ statements.
“Moody’s Ratings downgraded Belgium’s rating outlook to negative amid concerns about the trajectory of the country’s (budget) deficit, as well as political uncertainty following the general election earlier this year,” the agency said in a statement. Moody’s assigned an Aa3 rating, meaning it cut the rating to negative from stable.
Fitch Ratings assigned France a negative outlook. It is noted that this came a day after the government presented its budget for 2025, criticizing the efforts of Prime Minister Michel Barnier to combat the sharp deterioration of public finances.
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