Brussels Loses €500 Million Credit Line From Belfius: "Major Risk in the Long Run"

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Belfius Bank will terminate its €500 million credit line for the Brussels Region next year, according to outgoing Minister of Finance and Budget Sven Gatz (Open VLD). This will make it more difficult for Brussels to absorb short-term financial shortfalls. Gatz is pleased, however, that the Region's credit rating will be maintained for the time being.

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Standard & Poor's is leaving the Brussels Region's credit rating unchanged, despite the ongoing financial problems and political unrest. At the same time, Belfius is canceling its €500 million Brussels overdraft facility.