You are correct!
From our dictionary:
Pronunciation: (bu-lij'ur-unt), [key]
1. warlike; given to waging war.
2. of warlike character; aggressively hostile; bellicose: a belligerent tone.
3. waging war; engaged in war: a peace treaty between belligerent powers.
4. pertaining to war or to those engaged in war: belligerent rights.
1. a state or nation at war.
2. a member of the military forces of such a state.