S&P downgrades Belgium's credit rating

MarketWatch:  SAN FRANCISCO (MarketWatch) -- Standard & Poor's said Friday it downgraded the long-term sovereign credit rating of Belgium to AA from AA+ because of renewed funding and market risk pressure. The outlook is negative. "We think the Belgian government's capacity to prevent an increase in general government debt, which we consider to be already at high levels, is being constrained by rapid private sector deleveraging both in Belgium and among many of Belgium's key trading partners," S&P said in a note. S&P also cited the sale of Dexia SA's BE:DEXB +7.85% FR:DEXB +7.85% Belgian bank unit to the government as offsetting economic growth