Fitch downgrades New Zealand outlook to Stable from Positive

FXStreet (Mumbai) - The ratings agency Fitch, in its latest New Zealand review, affirmed sovereign rating at AA, but revised outlook lower to Stable from Positive.

Key Points

Weaker growth prospects have translated into a slower than expected path of debt reduction

Expects GDP to pick up to +2.4% and +2.6% in 2016 and 2017