Moody’s Vote Confidence In New Zealand Economy
Finance Minister Michael Cullen has welcomed Moody’s endorsement today of New Zealand’s sound macroeconomic and fiscal framework.
The rating agency in its latest report on New Zealand credits the government with supporting private sector growth and with running one of the lowest public sector debt to GDP ratios in the developed world.
The report is a yearly update to financial markets, rather than a formal ratings reassessment.
Moody’s has New Zealand on an Aa2 foreign currency country ceiling, and has the government on an Aaa rating for domestic currency debt.