Financial rating

In December 2023, Moody's confirmed the Walloon Region's rating at A3, with a stable outlook.

The elements put forward by Moody's are the following :

Credit strengths:

  • A mature and robust legislative background with well-defined responsibilities amid a complex Belgian institutional system.
  • Sophisticated but prudent debt management underpins unquestioned market access.
  • Revenue flexibility is supportive of the Region's credit profile.

Credit challenges:

  • The Region's debt burden will remain very high on the back of recurring financing deficits.
  • An economy which compares unfavorably with national and European peers.