We continue to equalize our ratings on the Belgian export credit agency Delcredere/Ducroire with the sovereign ratings on Belgium. This reflects our view of an "almost certain" likelihood of timely and sufficient extraordinary financial support from the Belgian federal government to Delcredere/Ducroire in case of financial distress. We are therefore affirming our 'AA/A-1+' ratings on Delcredere/Ducroire. The stable outlook continues to reflect that on Belgium. On Oct. 8, 2015, Standard&Poor's Ratings Services affirmed its 'AA/A-1+' long- and short-term issuer credit ratings on Belgian state-owned export credit agency Delcredere/Ducroire. The outlook is stable. The ratings on Delcredere/Ducroire reflects our view that there is an "almost certain" likelihood that the Belgian federal government will provide timely and sufficient extraordinary support
