Fitch affirms Apetra

Fitch Ratings said it affirmed Apetra's long-term foreign- and local-currency issuer default ratings at AA- with stable outlook and short-term foreign-currency issuer default rating at F1+.

The company’s senior unsecured notes were also affirmed at AA-.

Fitch said the ratings reflect the federal government's strong oversight of Apetra, the consolidation of its debt into the general government accounts, its access to the Federal Debt Agency (FDA) for refinancing and its strategic policy role for Belgium.

In line with the top-down approach in Fitch's Government-Related Entities Rating Criteria, Apetra’s ratings are equalized with and credit-linked to Belgium's ratings (AA-/stable/F1+), the agency noted.

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