New Zealand Credit Ratings May Come Under Pressure, S&P Says
- Current account deficit is much wider than S&P had anticipated
- Ratings agency will look closely at government’s budget in May
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New Zealand’s credit grades with S&P Global Ratings could come under pressure if the nation’s current account deficit remains too big.
The deficit “is at an extremely high level at the moment,” and “much wider than we were expecting it to be,” said Anthony Walker, a director of sovereign ratings for Australia, New Zealand and the Pacific at S&P.