Standard and Poors were more generous to NZ earlier:
Fitch now:
- affirms NZ at AA; outlook stable
- says New Zealand's high net external debt and elevated household debt are key weaknesses for credit profile
- ratings are underpinned by very high governance standards
- rising external risks and soft business confidence are headwinds for outlook
- says it anticipates that RBNZ will maintain a relatively accommodative stance, and will not raise rates until 202
- expects house price growth to continue to be moderate
more to come
