- raises outlook to positive from stable
- fiscal consolidation is strengthening the resilience of NZ’s sovereign credit profile
- vulnerabilities remain, primarily related to high net external debt and strong commodity dependence
- NZ remains heavily exposed to external developments, noticeably in China and Australia
- real GDP growth is expected to rise to 3.8% in 2014 on the back of the re-construction in Canterbury
NZDUSD liking the news. 0.8807 high posted so far. Highest since August 2011 Currently 0.8797
Full report from Fitch here
