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IPFS News Link • Economy - International

Moody's cuts Belgium ratings by 2 notche

• Reuters

Moody's on Friday cut Belgium's credit rating by two notches, saying the euro zone debt crisis increases funding risks for countries with high public debt burdens.

Concerns about Belgium's economic growth prospects and its banking system, particularly with contingent liabilities stemming from the Dexia group bailout, also contributed to the decision, Moody's said.