Standard & Poor's credit rating for New Zealand stands at AA with stable outlook. Moody's credit rating for New Zealand was last set at Aaa with stable outlook. Fitch's credit rating for New Zealand was last reported at AA with stable outlook. In general, a credit rating is used by sovereign wealth funds, pension funds and other investors to gauge the credit worthiness of New Zealand thus having a big impact on the country's borrowing costs. This page includes the government debt credit rating for New Zealand as reported by major credit rating agencies.



AgencyRatingOutlookDate
TE93 Stable Apr 16 2016
TE90 Stable Apr 16 2016
TE93 Stable Apr 16 2016
FitchAA Stable Jan 26 2016
TE93 Stable Jan 26 2016
TE93 Stable Jan 26 2016
TE93 Stable Jul 08 2014
FitchAA Positive Jul 08 2014
TE93 Stable Jul 08 2014
TE93 Stable Apr 22 2014
TE93 Stable Apr 22 2014
TE93 Stable Mar 21 2014
TE93 Stable Mar 21 2014
TE93 Stable Oct 15 2013
TE93 Stable Oct 15 2013
TE93 Stable Jul 18 2013
TE93 Stable Jul 18 2013
TE93 Stable Jun 10 2013
TE93 Stable Jun 10 2013
TE93 Stable Nov 28 2011
TE93 Stable Nov 28 2011
TE96 Negative Sep 29 2011
S&PAA Stable Sep 29 2011
FitchAA Stable Sep 29 2011
TE96 Negative Sep 29 2011
TE96 Negative Aug 05 2011
TE96 Negative Aug 05 2011
TE96 Negative Aug 02 2011
TE96 Negative Aug 02 2011
TE96 Negative Jul 14 2011
TE96 Negative Jul 14 2011
TE96 Negative Jul 13 2011
TE96 Negative Jul 13 2011
TE96 Negative Apr 18 2011
TE96 Negative Apr 18 2011
S&PAA+ Negative Nov 21 2010
TE96 Stable Nov 21 2010
TE96 Stable Nov 21 2010
TE96 Stable Jul 15 2009
FitchAA+ Negative Jul 15 2009
TE96 Stable Jul 15 2009
S&PAA+ Stable May 27 2009
TE96 Negative May 27 2009
TE96 Negative May 27 2009
S&PAA+ Negative Jan 12 2009
TE96 Stable Jan 12 2009
TE96 Stable Jan 12 2009
FitchAA+ Stable Aug 18 2003
TE95 Stable Aug 18 2003
TE95 Stable Aug 18 2003
TE91 Stable Oct 20 2002
TE91 Stable Oct 20 2002
Moody'sAaa Stable Oct 20 2002
FitchAA Stable Mar 27 2002
TE92 Stable Mar 27 2002
TE92 Stable Mar 27 2002
S&PAA+ Stable Mar 06 2001
TE92 Negative Mar 06 2001
TE92 Negative Mar 06 2001
TE92 Negative Sep 21 2000
TE92 Negative Sep 21 2000
Moody'sAa2 Stable Sep 23 1998
TE95 Negative Sep 23 1998
TE95 Negative Sep 23 1998
S&PAA+ Negative Sep 09 1998
TE95 Stable Sep 09 1998
TE95 Stable Sep 09 1998
Moody'sAa1 Negative Watch Jun 04 1998
TE95 Stable Jun 04 1998
TE95 Stable Jun 04 1998
TE95 Stable Apr 01 1996
TE95 Stable Apr 01 1996
Moody'sAa1 Stable Feb 26 1996
TE92 Stable Feb 26 1996
TE92 Stable Feb 26 1996
S&PAA+ Stable Jan 31 1996
TE90 Stable Jan 31 1996
TE90 Stable Jan 31 1996
TE90 Stable Jan 03 1996
TE90 Stable Jan 03 1996
Moody'sAa2 Positive Watch Jan 03 1996
TE90 Stable Nov 13 1995
TE90 Stable Nov 13 1995
S&PAA Stable Dec 22 1994
TE90 Positive Dec 22 1994
TE90 Positive Dec 22 1994
TE90 Positive Aug 10 1994
TE90 Positive Aug 10 1994
S&PAA Positive Jul 07 1994
TE87 Stable Jul 07 1994
TE87 Stable Jul 07 1994
TE85 Stable Mar 16 1994
TE85 Stable Mar 16 1994
Moody'sAa2 Stable Mar 16 1994
Moody'sAa3 Positive Watch Feb 22 1994
TE85 Stable Feb 22 1994
TE85 Stable Feb 22 1994
TE87 Negative Jan 22 1991
TE87 Negative Jan 22 1991
S&PAA- Stable Jan 22 1991


 S&PMoody'sFitchDBRSTE
B+ B1 35
BBB BBB+ 60
B- B3 B 28
B B2 B B 31
B1 B+ 35
BBB+ BBB- 60
AAA Aaa AAA AAA 100
AA+ Aa1 AA+ AAA 96
BB+ Ba2 BB+ 50
BB+ Baa3 52
B+ B2 BB- 36
BB- Ba3 BB- 40
SD Caa3 15
B B3 B 26
AA Aa3 AA- AA (high) 88
B- B3 20
B+ N/A 30
A+ A2 N/A 78
BB- Ba3 BB- 41
B B3 28
A- A2 72
BB- Ba2 BB- BB (low) 42
BBB- Baa2 BBB 58
B 25
N/A B2 30
B B2 B 30
AAA Aaa AAA AAA 99
B B 30
Aa3 85
A+ A1 A N/A 80
A+ A1 A+ A (high) 81
BBB- Baa2 BBB BBB 58
CCC+ B3 22
BB- Ba2 BB 43
BB+ Ba2 BB+ 48
Caa2 15
BBB- Ba2 BBB- BB 48
AA- A1 AA- 81
AAA Aaa AAA AAA 100
BB- Ba3 BB- 38
B- B3 B- 26
B B3 B 28
CCC+ B3 B- 21
AA- A1 AA- AA (low) 81
B B1 B 31
AA Aaa AAA AAA 98
B+ Ba3 35
AA+ Aa1 AA+ AA (high) 96
AA Aa2 AA AAA 92
N/A Caa1 B 26
BB- Ba2 BB- 41
AAA Aaa AAA AAA 100
B B3 B 26
B+ B3 BB- B (high) 30
SD
BB- Ba1 BB 46
BB- B1 35
AA+ Aa2 AA+ 95
BBB- Baa3 BBB- 55
A A3 A 73
BBB- Baa2 BBB- BBB 56
BBB- Baa2 BBB 56
B- Caa1 B- 25
A+ A2 A+ A (high) 76
N/A Aa2 92
AA- A1 A+ 80
BBB Baa3 BBB BBB (high) 62
Ba3 B+ 38
B B3 B 28
A+ A1 A A 77
B+ B1 37
BBB- Baa3 BBB 56
B+ B2 B+ 35
AA Aa2 AA 90
NR B2 30
A A3 A- A (low) 70
B- B3 B- 28
B+ 35
AAA 100
A A3 A- A (low) 71
AAA Aaa AAA AAA 100
Aa3 AA 85
BB- BB 42
A- A3 A- 70
B2 B+ 32
A- A3 A+ A (high) 73
Baa1 65
BBB+ A3 BBB+ BBB (high) 65
B3 25
B B3 B 26
B+ B1 35
BBB- 55
BBB- Ba1 BBB- 53
SD Caa3 RD 12
Ba1 BB+ 52
AAA Aaa AAA AAA 100
AA Aaa AA 93
B- B2 B 30
B B2 B+ 31
AAA Aaa AAA AAA 99
BB Baa3 BBB- 53
B B3 B 28
BBB Baa2 BBB 60
B B2 32
BB Ba1 BB 46
BBB+ A3 BBB+ N/A 65
BBB Baa2 BBB 60
A- A2 A- A 71
BBB- Baa3 BBB BBB 56
D 0
AA- Aa3 AA- 85
B- Caa2 CC 23
BBB- Baa3 BBB- 55
BBB- Ba1 BBB- 51
B B2 B+ 31
BBB- 55
A- A1 A+ 78
B+ Ba3 37
BB Ba3 BB 38
BB- 40
AAA Aaa AAA AAA 98
A+ A2 A+ A (high) 78
A+ Baa1 A- A 72
B3 25
BB Baa3 BB+ 50
AA Aa2 AA- 86
A- Baa1 A- A 68
B+ B1 B+ 35
B3 25
B B2 B- 28
B2
AAA Aaa AAA AAA 99
AAA Aaa AAA AAA 100
AA- Aa3 AA- 83
B- B3
B1
BBB+ Baa1 BBB+ 65
BBB+ Ba1 57
N/A B2 B+ 35
B+ Ba3 BB BB (high) 43
B B2 B+ 33
B- Caa2 B- 20
AA Aa2 AA 90
AA Aa2 AA AAA 93
AA+ Aaa AAA AAA 98
BBB Baa2 BBB- BBB (low) 55
SD C RD 12
BB- Ba3 BB 40
B- Caa1 B- 34


Ratings

TE S&P Moody's Fitch DBRS Description
100 AAA Aaa AAA AAA Prime
95 AA+ Aa1 AA+ AA (high) High grade
90 AA Aa2 AA AA
85 AA- Aa3 AA- AA (low)
80 A+ A1 A+ A (high) Upper medium grade
75 A A2 A A
70 A- A3 A- A (low)
65 BBB+ Baa1 BBB+ BBB (high) Lower medium grade
60 BBB Baa2 BBB BBB
55 BBB- Baa3 BBB- BBB (low)
50 BB+ Ba1 BB+ BB (high) Non-investment grade
speculative
45 BB Ba2 BB BB
40 BB- Ba3 BB- BB (low)
35 B+ B1 B+ B (high) Highly speculative
30 B B2 B B
25 B- B3 B- B (low)
20 CCC+ Caa1 CCC CCC (high) Substantial risks
15 CCC Caa2 CCC Extremely speculative
10 CCC- Caa3 CCC (low) In default with little
prospect for recovery
  CC Ca CC
5 C C C
0 D / DDD   In default
/ DD D
D
Standard & Poor, Moody's, Fitch and DBRS' sovereign debt credit rating is displayed above. In addition, the Trading Economics (TE) credit rating is shown scoring the credit worthiness of a country between 100 (riskless) and 0 (likely to default). Unlike the ratings provided by the major credit agencies, our index is numerical because we believe it is easier to understand and more insightful when comparing multiple countries. Arguably, our ratings are less likely to be manipulated because they are unsolicited and we are not paid in any way to provide countries with a rating. Technically, our ratings are based on a forward looking macro economic model which takes into account several leading economic indicators, financial markets and very little discretion. If you have any question please email us at contact@tradingeconomics.com


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New Zealand - Credit Rating