NZ credit ratings unaffected by government's 2015 budget

Thu, 21 May 2015

By Tina Morrison May 21 (BusinessDesk) - New Zealand's credit ratings were unaffected by the government's 2015 budget, Standard & Poor's and Moody's Investors Service say. S&P kept its AA foreign currency rating and its AA+ local currency rating, both with a stable outlook, while Moody's retained the country's Aaa rating with a stable outlook, the ratings agencies said in separate statements. New Zealand's budget announced today detailed a four-year $3.2 billion reduction in the Crown’s operating balance compared with the half-year est...

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