Dutch railways credit rating in jeopardy

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Credit rating agency Standard and Poor's put the Dutch railways NS on 'creditwatch negative' on Monday. This means the company's AA- rating may be downgraded.

Whether this happens will, according to S&P, depend on the credit rating of the Dutch state, the sole shareholder. 

Last week S&P issued a warning to most European Union countries that their credit ratings are in danger because of "increased systems risks". 

In the case of the Dutch railways, S&P is examining whether a downgrade for the Dutch state would endanger its funding. It will also consider the effect of worsening economic conditions on its credit rating.

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