RTTNews - Thursday, Fitch Ratings lowered New Zealand's rating outlook to negative from stable.
The revision in the outlook reflects the agency's concern about the medium-term growth outlook for New Zealand given its persistently large current account deficit and rising foreign indebtedness, Fitch said.
At the same time, the rating agency affirmed the country's long-term foreign currency Issuer Default Rating (IDR) at 'AA+', the long-term local currency IDR at 'AAA', the short-term foreign currency rating at 'F1+' and the Country Ceiling at 'AAA'.
New Zealand's ratings have been affirmed reflecting its strong credit fundamentals, notably a credible commitment to low inflation, strong public finances and track record of policy and structural adjustment, Fitch added.
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