We affirmed our 'AA' unsolicited long-term sovereign credit rating on the Kingdom of Belgium on Jan. 13, 2012. The ratings on Office National du Ducroire/Nationale Delcrederedienst (ONDD) are equalized with those on the Kingdom of Belgium, reflecting our opinion that there is an "almost certain" likelihood that ONDD would receive timely and sufficient extraordinary support from the Belgian government in case of need. Consequently, we are affirming our long-term 'AA' ratings on ONDD and removing them from CreditWatch with negative implications, where they were placed on Dec. 7, 2011. We are also affirming the 'A-1+' short-term ratings. The negative outlook reflects that on the Kingdom of Belgium. On Jan. 17, 2012, Standard&Poor's Ratings Services affirmed its 'AA' long-term
