S&P affirms New Zealand's 'AA' credit rating on solid economy, fiscal prudence; kiwi gains

Fri, 20 Jan 2017

By Paul McBeth Jan. 20 (BusinessDesk) - Standard & Poor's affirmed New Zealand's credit rating, saying the economy's solid growth looks set to continue and the Crown's fiscal management remains prudent. The kiwi dollar gained. The global rating agency kept the sovereign foreign currency credit rating at 'AA', local currency rating at 'AA+', and short-term rating at 'A-1', with a stable outlook, saying the nation benefitted from strong institutions, an effective government and credible Reserve Bank. The kiwi rose to 72.18 US cents from 71...

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