Netherlands keeps Fitch AAA credit rating

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Rating agency Fitch reaffirmed the Netherlands AAA rating on Friday on signs the country’s economy is recovering. The agency predicts GDP growth of 1.2 percent for 2015.

This figure was revised downward from 1.4 percent following the weakened outlook across the eurozone. This will likely affect Dutch exports, Fitch says.

Fitch remains positive after signs of life in the Dutch housing market and the boost in consumer confidence, even though consumer confidence fell in the wake of ongoing disputes with Russia. Government deficit is likely to decrease over the next two years, the agency predicts.

Also, all Dutch banks survived the ECB stress tests, which the agency considered when evaluating the nation’s rating.

Despite the stable outlook, the rosy picture is tainted by uncertainty in public policy, and household debt.

The Netherlands also has a triple-A rating from Moody’s. It has kept a double-A-plus rating from Standard & Poor’s ever since the S&P stripped the Dutch triple-A in 2013.

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