26 Aug 2014

NZ credit rating unchanged

7:22 pm on 26 August 2014

Standard and Poor's has left New Zealand's creditworthiness unchanged at AA.

The credit rating agency says the strong rating reflects the growing economy and the Government's improving financial position.

It left New Zealand's rating outlook as stable.

Standard and Poor's has reiterated that New Zealand remains vulnerable due to the high level of indebtedness and the economy's strong dependence on commodity prices and China.

Another agency, Fitch, left New Zealand's credit rating at AA last month, but said there is a chance that it may be raised in the future.

New Zealand is rated AAA with a stable outlook by Moody's.