Credit rating agency Moody's has lowered Belgium's sovereign credit score from Aa3 to A1, citing doubts that the federal government's planned fiscal measures are sufficient to bring the country's public debt under control. The downgrade, which moves Belgium one step down the rating ladder and could force the government to borrow at higher interest rates, follows a similar move by rival agency Fitch late last year — raising concern that combined pressure from two downgrades may trigger mandatory bond sell-offs by certain institutional funds, potentially pushing borrowing costs higher. Prime Minister Bart De Wever (N-VA) said the decision came as no surprise, calling it a reminder that "extra efforts are needed" to restore international market confidence in Belgium's finances, as a third major agency, Standard & Poor's, is due to publish its own assessment next week.