Rating of Flanders

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Fitch assigned on the 6th March 2020 a 'AA' rating to the Flemish Community with a stable Outlook.

The 'AA' rating is one notch above the rating of Belgium and reflects Fitch's view that the Flemish Community would have the ability in some scenario's to continue servicing it's debt, despite a default of the sovereign.

The Flemish Community's risk profile is assessed at "Stronger"".

This reflects a "Stronger" assessment" on five of the six key risk factors (KRF) :

  • Revenue robustness
  • Revenue adjustability
  • Expenditure sustainability
  • Liabilities and liquidity robustness
  • Liabilities and liquidity flexibility

You can find the rating report from Fitch below