RTTNews - Thursday, the Moody's Investors Service said New Zealand's Aaa rating outlook remained stable. The rating agency said the budget indicated continuing pressure on public finances for several coming years. But, the Aaa rating was not immediately affected by the projected debt path.
Steven Hess, Moody's Vice President and lead analyst for New Zealand said, . in the case of New Zealand, costs resulting from assistance to the financial system are small compared to some other countries. Therefore, the deterioration in the fiscal position indicates a more structural problem rather than the one-time shock coming from the credit crisis.
Elsewhere, the Standard and Poor's raised New Zealand's rating outlook to stable from negative.
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