| Rating Agency | Rating | Outlook | Last Update | Action |
|---|---|---|---|---|
| Standard & Poor's | AA+ | - | 22 Feb 2021 | rating upgrade |
| Moody's Investors Service | Aaa | - | 20 Oct 2002 | rating upgrade |
| Fitch Ratings | AA+ | - | 9 Sep 2022 | rating upgrade |
| DBRS | - | - |
Current New Zealand credit ratings, according to the main rating agencies, provide a snapshot of the country’s creditworthiness and financial stability. These ratings are critical for understanding how international and domestic investors perceive New Zealand ability to honor its financial commitments.
The ratings are determined by comprehensive evaluations conducted by major credit rating agencies such as Standard & Poor's (S&P), Moody's, and Fitch Ratings. Each of these agencies uses a distinct rating scale and methodology to assess the economic and financial health of New Zealand, taking into account various factors such as economic performance, fiscal policies, political stability, and debt levels.
Discover what a Credit Rating is and why it matters.
New Zealand: Long-term Rating Scales Comparison
New Zealand long-term credit ratings, as assigned by major rating agencies, offer a comparative insight into the country's creditworthiness over an extended period. Each rating agency uses its own scale to evaluate the credit risk associated with New Zealand sovereign debt. These scales help investors understand the likelihood that New Zealand will meet its financial obligations.
Symbol means a negative outlook.
| Grade | Description | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|---|
|
Investment Grade |
Prime |
AAA
|
Aaa
|
AAA
|
AAA
|
| High Medium Grade |
AA+
|
Aa1
|
AA+
|
AA(high)
|
|
|
AA
|
Aa2
|
AA
|
AA
|
||
|
AA-
|
Aa3
|
AA-
|
AA(low)
|
||
| Upper Medium Grade |
A+
|
A1
|
A+
|
A(high)
|
|
|
A
|
A2
|
A
|
A
|
||
|
A-
|
A3
|
A-
|
A(low)
|
||
| Lower Medium Grade |
BBB+
|
Baa1
|
BBB+
|
BBB(high)
|
|
|
BBB
|
Baa2
|
BBB
|
BBB
|
||
|
BBB-
|
Baa3
|
BBB-
|
BBB(low)
|
||
|
Speculative Grade |
Speculative |
BB+
|
Ba1
|
BB+
|
BB(high)
|
|
BB
|
Ba2
|
BB
|
BB
|
||
|
BB-
|
Ba3
|
BB-
|
BB(low)
|
||
| Highly Speculative |
B+
|
B1
|
B+
|
B(high)
|
|
|
B
|
B2
|
B
|
B
|
||
|
B-
|
B3
|
B-
|
B(low)
|
||
| Substantial Risk |
CCC+
|
Caa1
|
CCC+
|
CCC(high)
|
|
|
CCC
|
Caa2
|
CCC
|
CCC
|
||
|
CCC-
|
Caa3
|
CCC-
|
CCC(low)
|
||
| Extremely Speculative |
CC
|
Ca
|
CC
|
CC
|
|
|
C
|
C
|
C
|
C
|
||
| In Default |
RD
|
/
|
RD
|
RD
|
|
|
SD
|
/
|
SD
|
SD
|
||
|
D•NR
|
D•NR
|
D•NR
|
D•NR
|
||
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New Zealand Credit Ratings historical data
Symbol means a positive outlook assigned by the rating agency.
Symbol means a negative outlook.
| Date | S&P | Moody's | Fitch | DBRS |
|---|---|---|---|---|
| 9 Sep 2022 | AA+ | |||
| 22 Feb 2021 | AA+ | |||
| 23 Jan 2020 | AA | |||
| 31 Jan 2019 | AA | |||
| 26 Jan 2016 | AA | |||
| 8 Jul 2014 | AA | |||
| 29 Sep 2011 | AA | AA | ||
| 21 Nov 2010 | AA+ | |||
| 15 Jul 2009 | AA+ | |||
| 27 May 2009 | AA+ | |||
| 12 Jan 2009 | AA+ | |||
| 18 Aug 2003 | AA+ | |||
| 20 Oct 2002 | Aaa | |||
| 27 Mar 2002 | AA | |||
| 6 Mar 2001 | AA+ | |||
| 23 Sep 1998 | Aa2 | |||
| 9 Sep 1998 | AA+ | |||
| 4 Jun 1998 | Aa1 | |||
| 26 Feb 1996 | Aa1 | |||
| 31 Jan 1996 | AA+ | |||
| 3 Jan 1996 | Aa2 | |||
| 22 Dec 1994 | AA | |||
| 7 Jul 1994 | AA | |||
| 16 Mar 1994 | Aa2 | |||
| 22 Feb 1994 | Aa3 | |||
| 22 Jan 1991 | AA- | |||
| 26 Jun 1989 | AA | |||
| 2 Nov 1986 | AA | |||
| 15 Aug 1986 | Aa3 | |||
| 17 Oct 1984 | Aa | |||
| 29 Apr 1983 | AA+ | |||
| 29 Jun 1977 | Aaa | |||
| 1 Nov 1976 | AAA | |||
| 10 Jul 1975 | Aa | |||
| 1 Jul 1965 | Baa | |||
| 29 Sep 1961 | BBB |
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