S and P affirms NZ’s AA+ rating; sound fiscal position makes up for private sector indebtedness

Mon, 26 Aug 2013

Aug. 26 (BusinessDesk) – New Zealand’s AA+ credit rating has been affirmed by Standard & Poor’s, which says the nation’s economic resilience and sound fiscal position makes up for high external imbalances, household and farm debt, and reliance on commodities. S&P also affirmed a stable outlook for the country’s debt rating. Local and foreign currency short-term ratings were affirmed at A-1+. “The ratings on New Zealand reflect the country’s fiscal and monetary policy flexibility, economic resilience, public policy stability and financial sec...

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