Standard & Poor’s raised Belgium’s credit outlook to stable from negative, keeping the country’s credit rating at AA.

“Belgium’s GDP has proven its resilience to economic and financial crisis since 2008,” S&P previously stated. “We estimate that it will grow in real terms by an average of 1.2 percent a year over 2014-2017, based on domestic demand and exports.”

The Belgium ETF was also rebounding after a 2.1% drop Monday following the Russian incursion into the Crimea peninsula over the weekend. On Tuesday, President Vladimir Putin stated that he will only use force in Ukraine as a last resort, Reuters reports.

iShares MSCI Belgium Capped ETF

For more information on Belgium, visit our Belgium category.

Max Chen contributed to this article.