NZ sovereign rating can absorb higher fiscal spending - S&P

By Rebecca Howard | Wed, 11 Dec 2019


International ratings agency Standard & Poor's says New Zealand’s higher government spending and weaker economic conditions are weighing on the fiscal outlook but there is no impact on its current rating.S&P Global Ratings made the comments after the government said it will fund $12 billion of new spending on roads, rail, schools, hospitals and other public infrastructure over the next five years.“We believe this can be accommodated within the current rating and net debt threshold,” S&P said.The firm currently rates New Zealand at '...