Fitch Ratings has affirmed the Kingdom of the Netherlands' AAA rating. In the same action, the agency has revised outlooks on the country' ratings to Negative from Stable according to a press release. This revision and the rationale adds concerns over a possible rating cut from the AAA status in Netherlands.

"The Outlook revision to Negative from Stable reflects Fitch's view that the leveraged Dutch economy has suffered a number of shocks." Housing declining prices, housing worst-than-expected correction and the Fitch's revised "projected peak-to-trough decline to 25% from 18%."

"This will continue to weigh heavily on household consumption and consumer confidence. Secondly, as highlighted by last week's nationalization of SNS Bank N.V., some banking system problems persist, with three of the four major banks having faced severe financial difficulties and needing external support since 2008," Fitch says. "Thirdly, the level of public debt (expected to peak at 77% of GDP) is higher than most 'AAA' peers, which reduces fiscal policy options, and the economy has performed worse than Fitch previously expected."