S&P affirms NZ ratings at AA – Sees the New Zealand government continuing to improve fiscal performance

S&P affirms NZ ratings:

• Sees the New Zealand government continuing to improve fiscal performance
• New Zealand has fiscal, monetary policy flexibility
• New Zealand fiscal performance gradually improving
• S7P sees New Zealand net general government debt peaking at 24% of GDP in fiscal year 2016
• Sees New Zealand debt servicing burden to remain moderate
• Sees New Zealand growth to continue to support fiscal consolidation
• Growing links to China’s economy pose risks
• Sees widening New Zealand current account deficits over coming years