S&P Affirms New Zealand's Top-Rated Credit Rating

Finance Minister Nicola Willis has welcomed the latest foreign currency credit rating from S&P Global. The agency has reaffirmed New Zealand's AA+ rating with a stable outlook, forecasting the economy to grow by 2.5% in the next 12 months.

The rating is considered one of the highest globally, with only 18 economies holding an AA+ or better rating. Willis noted that S&P's affirmation is a vote of confidence in both the economy and the government's management of public finances.

S&P highlighted New Zealand's monetary policy flexibility, wealthy economy, relatively low net debt, and strong institutions as key strengths. However, it also acknowledged external imbalances and fiscal deficits as weaknesses.