S&P affirms New Zealand's AA credit rating, unperturbed by new govt spending plans

Tue, 30 Jan 2018

By Paul McBeth Jan. 31 (BusinessDesk) - Global ratings agency Standard & Poor's has affirmed New Zealand's 'AA' sovereign credit rating, saying the new government's plans to lift spending will be a bigger contributor to growth in the future, but are funded through cancelled tax cuts and won't undermine the outlook. The ratings agency yesterday affirmed the 'AA' foreign currency and 'AA+' local currency long-term sovereign credit ratings for New Zealand and maintained a stable outlook, saying the nation benefited from its flexible fiscal...

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