S&P agency cuts Dutch credit rating, upgrades outlook for Spain

The Netherlands credit rating had been cut to AA+ from its previous triple-A rating, Standard Poors (SP) ratings agency announced Friday as it further reduced the number of eurozone states enjoying premium creditworthiness from four to three.

The remaining eurozone nations with triple A ratings are Germany, Luxembourg and Finland.

The downgrade reflected opinions within SP that the Netherlands' growth prospects were weaker than previously anticipated, the agency said in a statement.

'The real GDP per capita trend growth rate is persistently lower than that of peers in similarly high levels of economic development,' SP added.

The two other main ratings agencies, Moody's and Fitch, still rate Dutch debt as triple-A.

Spanish outlook better

Also On Friday, Standard Poors lifted its outlook on Spanish debt, rewarding the debt-laden eurozone country for its efforts to reorder its finances.

'Credit metrics are stabilizing due to budgetary and structural reforms, coupled with supportive eurozone policies,' the agency said in a statement.

As Spain's external position was improving on the back of a resumption of economic growth, its long-term credit outlook had been lifted from negative to stable, SP added. However, the country's debt rating would remain BBB-, which is the lowest investment grade in financial markets