Wallonie Region Funding Gap Analysis
Key ratings considerations
MOODY'S
vigeqiris
Date of credit opinion: March 2019
Next review date: March 15th, 2020
Long Term Rating: A2 - Stable Outlook
Prime-1 short-term rating of its Treasury notes
Credit Strengths
▲ Positive impact of the Sixth State Reform on leverage and tax
autonomy
Robust liquidity position resulting from strong debt and treasury
management
Credit Challenges
Relatively large cumulated financing deficit, although on the
path to fiscal consolidation
Fragile economy compared with that of Belgium
Date of report: April 2018
ESG rating: 55/100
Région wallonne ranks 4th out of 30 among European Local
Authorities sector
Région wallonne demonstrates a consistent performance, with
scores above the sector average in all six assessed domains
The local authority's performance is ranked advanced in
Community Development and good in four other domains:
Environment, Human Resources, Human
Governance
Rights and
The performance in Procurement and Services is only limited
Wallonie
service public
SPW
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