Fitch downgrades NZ economic forecast, lowers rating outlook

Tue, 26 Jan 2016

By Paul McBeth Jan. 27 (BusinessDesk) - Fitch Ratings has reined in its expectation for New Zealand's economic growth this year and dropped its bias for a rating upgrade for the nation as soft dairy prices look set to weigh on business activity, making it more difficult for the government to get on top of debt. The global rating agency affirmed New Zealand's long-term foreign currency issuer default rating at AA, while reducing the outlook to stable from positive, which had previously indicated a higher rating was likely over a one- to t...

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