S&P affirms New Zealand's rating, outlook remains stable

The US-based ratings agency, Standard and Poor’s (S&P), published its latest report on Friday, affirming New Zealand’s AA+ sovereign rating.

Key Points:

Outlook reflects expectations that New Zealand will maintain or improve fiscal performance over medium term

NZ has monetary and fiscal flexibility, a resilient economy

NZ has institutions conducive to swift and decisive policy actions

Offsetting these strengths are its high external debt

AA foreign currency rating

AA+ local currency long-term sovereign credit rating