Fitch Affirmed New Zealand's Foreign-Currency IDR at 'AA'; Outlook Positive

News out of the rating agency overnight ICYMI

• Fitch Ratings has affirmed New Zealand's Long-Term Foreign-Currency (FC) Issuer Default Rating (IDR) at 'AA'
• with a Positive Outlook.
• Fitch has also affirmed the Long-Term Local-Currency (LC) IDR at 'AA+' with a Stable Outlook.

Cite, amongst other factors:

• New Zealand's ratings are underpinned by very high governance standards and a demonstrated commitment to prudent fiscal management, balanced against high levels of household and net external debt.