S&P raises Netherlands to top Netherlands ratingStaff writer ▼ | November 23, 2015
Standard and Poor's has raised the Netherlands to top Netherlands credit rating, saying the eurozone nation's economic recovery has gained traction.
Ratings Economic recovery has gained traction
Standard and Poor's, which lowered The Netherland's rating in November 2013, gave the country a stable outlook and pointed to "future growth prospects are stronger than we had previously expected".
It cited the nation's "long track record of prudent and flexible macroeconomic policies reflected in, among other things, its improving budgetary position" as its reasons for raising the rating.
After the Dutch economy expanded just one percent last year, the ratings agency said it expects growth will increase to almost two percent annually through 2018.
S&P said this was due to a "recovery in domestic demand that, after several years of stagnation during which households paid down what are still very high private debt levels, is stronger than we had previously expected".
Private consumption was also benefitting from rising disposable incomes thanks to low in inflation and a drop in oil prices. ■